The Impact of Financial Institutions Intermediation Activities to Economic Growth in Nigeria: 2000 – 2016
This study examines the impact of financial institution intermediation activities to economic growth in Nigeria covering the period of 2000 to 2016. The study describe the operation of the Nigeria financial system and also to analyze the role played by financial institution in the economic growth of Nigeria.. Data for this study were basically secondary data collected from CBN statistical bulletin/release of relevant government agencies like national bureau of statistics and national population commission,. Data were analyzed using the ordinary least square (OLS) simple regression and Analysis of variance (ANOVA). The linear regression showed that there is a positive impact of financial institutions intermediation activities to economic growth in Nigeria. The (SPSS) was used to analyze and validate the hypothesis. Findings reveal that financial institution intermediation activities has contributed to economic growth and if in future this intermediation activities continue there must have been a strong and reliable impact of financial institutions intermediation in Nigeria. Therefore more financial institutions should be established in Nigeria to encourage and promote industrialization or the established financial institution should be allocated with more funds.