FINANCIAL INCLUSION AND THE ECONOMIC GROWTH OF NIGERIA

This study access financial inclusion on economic growth of Nigeria. The study covered a period between 1990-2021. The study made use of deposit of rural branches of deposit money banks and loan of rural branches of deposit money banks as proxy for the independent variables while gross domestic product was used as proxy for the dependent variable. The study employed ex-post facto research design. The study conducted various pre and post estimation test to fulfill the assumption of regression and to avoid spurious regression result. E-view 10.0 statistical software was used. The study found that deposit of rural branches of deposit money banks has positive (0.342) and insignificant (0.735) effect on gross domestic product of Nigeria, the study also found that loan of rural branches of deposit money banks has positive (7.050) and significant (0.00) effect on gross domestic product of Nigeria. The study recommended Rural branches of deposit money banks should fashion out more innovative ways of attracting more deposits from the rural dwellers as a way of contributing more to the economic growth of Nigeria. This can be achieved by creating platforms that would make depositing money easier and accessible. Rural branches of deposit money banks should closely monitor the loans they granted to their customers to make sure that sure loans are not misallocated.

1 19 Jan, 2024

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JBMIC PORTAL SYSTEM

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