The impact of inclusive finance on economic growth in Nigeria

The study examined the impact of inclusive financing on Nigeria's economic growth between 2001 and 2021. Financial inclusion helps to decrease poverty enhancement living conditions, making it an important indicator in emerging nations. unit root test result Augmented Dickey-Fuller Test (ADF) revealed that series becomes stationary after first difference, suitable for additional Ordinary Least Square (OLS) regression model was employed, cointegration with Johansen's formula, Cointegration causality tests were conducted using Granger techniques. According cointegration, exhibit cointegration. This indicates presence a lasting connection financial inclusion. Using tests, discovered indices Nigeria had statistically significant causal relationship. further provides suggestion significantly contributes Nigeria. In addition, has relationship growth. coefficient determination (R-squared = 0.6962) implies can account almost 69.6 per cent variance It been demonstrated favorably national development results also Number Deposit Money Banks Branches (NDMBB) (= -0.683), every thousand increases NDMBB, Gross Domestic Product (GDP) will by 0.683, which is consistent actual situation ground. supports hypothesis monetary policy would be more effective if promote therefore recommends achieve desired level money supply, authorities must implement policies ensure substantial proportion supply made up currency circulation. reduce quantity held outside banks. For continue, rural bank branches should encouraged make loans private businesses small- medium-sized enterprises.