Purpose: Financial inclusion entails the delivery of financial services to individuals and businesses at segments of the society at a reasonable rate that meets their desired transactions. In view of this, the paper examined financial inclusion and economic growth in Nigeria from 1981-2018. Methods: The ARDL model was used to analyze the annual time series data collected from the CBN Statistical Bulletin and the World Bank report. The augmented Dickey Fully (ADF) unit root test, to test for stationarity of the variables preceded the ARDL model.    Results: The ADF unit root test results showed that the dependent variable was stationary at order zero I(0), while the independent variables were stationary at order one I(1). Based on the first-hand results, it was revealed that both in the short-run and long-run, access and effective usage of financial services bring about a significant increase in economic growth. But per capita income has a negative but significant relationship with economic growth.  Implications: The study conforms to finance-led growth theory which averred that the financial system is a positive function of economic growth. Based on these findings, the paper recommended that more efforts needed to be done to enhance and extend financial inclusion services such as electronic transaction in the form of POS, ATM, mobile money, etc to all rural communities in Nigeria as well as financial literacy and engagement of low-income people in the formal financial services in order to increase economic growth.

Purpose: This paper examined the impact of the global financial crisis on the capital market in Nigeria from 1980-2018. It specifically aimed to determine the impact of the currency crisis and liquidity crisis on the capital market in Nigeria. Methods: The study was time series data based. Data were generated from the Central Bank of Nigeria Statistical Bulletin. The variables were subjected to descriptive statistics and the 'Augmented Dickey-Fuller' (ADF) unit root test prior to the 'Auto-Regressive Distributed Lag' (ARDL) model.  Results: The outcome of descriptive statistics demonstrated that the parameters were not normally distributed. Also, the ADF unit root test demonstrated that one of the parameters was stationary at I(0) while the remaining two were stationary at I(1). Based on the ARDL results, it was observed that in the short run, the financial crisis has an indirect influence on the performance of Nigerian capital markets. Liquidity crisis, a proxy for the depletion of external reserves has a strong influence on the capital market.  The long-run result showed that there is a long-run association amongst the variables. Implications: In view of these findings, the paper recommends that the government should fine-tune its policy mix to ensure that the capital market and the economy do not suffer from the global economic crisis as it takes place.

The shift from the non-oil sector to the oil sector affects the production base of the Nigerian economy and brings about Dutch Disease which rendered the economy susceptible to worries associated with the crude oil price in the international market and crude oil output. Consequently, the need for macroeconomic polies to redirect the economy from the oil to the non-oil based, Thus, the paper assessed policy mix and non-oil output in Nigeria for the period 1990–2019. The objectives of the study was to; examined the effect of fiscal policy in terms of government capital spending and value-added tax (VAT) on non-oil output in Nigeria; and examine the effect of monetary policy in terms of broad money supply and real exchange rate on non-oil output in Nigeria. The study made use of secondary data collected from the Central Bank of Nigeria statistical bulletin and applied the Vector Error Correction Method (VECM). Other tests carried out include: stationary and co-integration tests. The results of the ADF unit root and Johansen co-integration tests showed that all the variables were stationary at order one and were indeed co-integrated. The VECM result showed that the R2 is 65%; this indicated that the model is a good fit. The long-run VECM results showed that there is a long-run causality running from the independent variables to the dependent variable. The short-run VECM result showed that, there is a direct but insignificant relationship between government capital spending and non-oil GDP. Also, there is a direct but insignificant relationship between broad money supply and non-oil GDP. Meanwhile, there is a negative and insignificant relationship between VAT and non-oil output. But the real exchange rate exerts a negative and significant relationship with non-oil output. Owing to the findings, it was concluded that the combination of the policy mix in terms of fiscal and monetary policies are important drivers of the output of the non-oil sector. But constraint in the form of negative relationship between VAT and non-oil output is inimical to the growth of the non-oil sector. Based on these findings, the study recommended amongst others that macroeconomic policies in term of effective use of government revenue from VAT and strong value of the naira in-term of the U.S dollar should be well directed at increase the output of the non-oil sector.