Effect Of Financial Development On Economic Growth In Nigeria (1993-2016)

ABSTRACT

The study focuses on the financial development on economic growth in Nigeria from

1993-2016. The major problem examine in this research is the effect of financial

development on the economic growth. Data were collected from secondary sources

using ex-post facto research design. The data collected were then tabulated and

analyzed using multiple regression analysis. The result of hypothesis one revealed

that there is no signflcant association between bank deposit liability and real

domestic product in Nigeria. The find of hypothesis two revealed that investment has

no significant impact on gross domestic product growth rate In Nigeria. It is

recommended that the financial institution in Nigeria should bring about more

innovations and attractive packages and promotions into their systems or banking

sectors on other to makes the public patronize their services as this Nigeria. Finally,

the government can also do more by encouraging investment as we all know that

investment increases a country's gross domestic product and also bring about

standardization investment also brings about profit terms of rent.