IREJEH, Enaikpobomene Mina
Department of Marine Economics and Finance,
Nigeria Maritime University, Okerenkoko,
Delta State, Nigeria.
E-MAIL: irejehmina@gmail.com
OKORO, Longlife Owei
Department of Marine Economics and Finance,
Nigeria Maritime University, Okerenkoko,
Delta state, Nigeria.
Email: longlifeokro@gmail.com
MARKWE, Henry Somayina
Department of Banking and Finance,
Delta State Polytechnic, Ogwashi-Uku,
Delta State, Nigeria.
Email: henrysomayina@gmail.com
ABSTRACT
This study examined the influence of microfinance bank (MBs) on the Nigerian economy from
2000 to 2022. Specifically, the study examined the influence of MLOA, MDEP, MINV and
MAST on RGDP. Data for the study was sourced from CBN statistical bulletin and annual report
of MBs, and analyzed using descriptive statistics, unit root test, cointegration test, and granger
causality test. Result emanating from the study revealed that MLOA, MINV, and MDEP have
positive and insignificant effect on RGDP while MAST has direct yet significant influence on
RGDP. Hence, while, improving investment and other forms of wealth accumulation should be
the long-term objective, we advise microfinance firms to provide loans in the short term to boost
consumption.
Keywords: Micro-Finance, Micro-finance Deposits, Micro-finance Assets, Micro-finance
Investment, Human Capital Development, Real Gross Domestic Product