Expresión Económica (Jul 2024)

Modelling the nexus between financial intermediation and economic growth in Nigeria

  • Kayode David Kolawole,
  • Biliqees Ayoola Abdulmumin,
  • Kolawole Alabi Babaita,
  • Rukayat Bukola Adejare,
  • Usman Adesola Osunkunle,
  • Ayodeji Hakeem Adegboyega

DOI
https://doi.org/10.32870/eera.vi53.1183
Journal volume & issue
no. 53

Abstract

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This study examined the influence of financial intermediation on Nigeria’s economic growth. Secondary data employed in the study was sourced from the 2021 Statistical Bulletin of the Central Bank of Nigeria. The obtained data were subjected to autoregressive distributed lags (ARDL) models. The study revealed that credit to the private sector has contributed positively to the economic growth. Finally, the study indicated a significant positive relationship between the total volume of shares traded and economic growth in Nigeria. Consequently, the study concluded that financial intermediation plays a pivotal role in influencing economic growth within the country.

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