Bank financial intermediaries and economic growth in Nigeria

Abstract

This study was motivated by Nigerian banks' inability to provide enough credit towards the real economy sector. The paper investigated the connection between bank financial intermediaries and Nigerian economic growth. The main objective is to evaluate the effect of financial intermediaries on the expansion of Nigeria's economy. The specific objectives are to determine the significant relationship between the deposit money banks credit and overall economic output in Nigeria and to explore the significant connection with both Micro finance bank credit and overall economic output in Nigeria. To accomplish the intended goal, regression analysis was applied in the study.The Central Bank of Nigeria Statistical Report was used as the data source. According to results there was a substantial association between deposit money bank credit and Nigeria's Gross Domestic Product (GDP) over the analysis period. Additionally, there was a strong correlation in Credit Efficiency between Microfinance bank credit and overall economic output. In order to expand their capacity to pay for customer withdrawals and to enhance the credit facilities they make to