ERHIJAKPOR, Andrew E. O.
Department of Accounting, Banking and Finance,
Faculty of Management Sciences, Delta State University, Abraka
and
OKO, Ezekiel O.
Department of Accounting, Banking & Finance,
Faculty of Management Sciences, Delta State University, Abraka
ABSTRACT
This study examined the implications of financial intermediations on the growth of the Nigeria economy. The secondary data employed for the study was obtained from the Central Bank of Nigeria Statistical Bulletin (2020). The econometric regression framework was used to estimate the model for the study. The variables selected for the study were gross domestic product as a proxy for economic growth, while exchange rate, credit to private sector, Savings and time deposit, and currency in circulation represented the regressors. The results of the analysis showed that exchange rate, credit to private sector, Savings and time deposit, and currency in circulation has a significant positive effect on economic growth in Nigeria. The findings also imply that Currency in circulation exerts more influence on gross domestic product than the other variables. It is therefore recommended among others that Government should provide opportunities and support for Small and Medium Enterprises through grants and low-interest loans.
Keywords: Financial Intermediation, Economic Growth, Central Bank of Nigeria, Credit to the Private Sector