FINANCIAL INCLUSION ON ECONOMIC GROWTH IN NIGERIA

Abstract This study impact of financial inclusion on economic growth in Nigeria. The objectives of the study are: to assess the causal relationship between financial inclusion and economic growth in Nigeria, to identify how financial inclusion impacts economic growth, to evaluate the effectiveness of different financial inclusion policies and programs, to assess the potential costs and benefits of financial inclusion and to provide policy recommendations for enhancing financial inclusion and promoting economic growth in Nigeria. The study adopted four research questions and four hypotheses, also this study made use of CBN Statistical bulletin, econometric technique of Ordinary Least Squares (OLS) The Augmented Dickey Fuller test was used in the study to check for unit root. The ADF result showed from ordinary least square result shows that financial inclusion (Number branches of commercial Bank per capita per in a rural area and number of depositors with commercial bank per 1000 adults) has contributed positively to the Nigerian economy within the short period of its implementation. On the bases of the foregoing, the study recommends that expand Banking Infrastructure: Given the positive relationship between the number of commercial bank branches per capita (NBCB) and GDP, it is recommended that efforts be made to increase the presence of banks, especially in underserved areas, Increase Loans to Rural Branches: Since loans to rural branches of commercial banks (LRBCB) have a significant positive impact on GDP, financial institutions should focus on expanding lending programs tailored to rural areas and Invest in Education Initiatives: The strong positive correlation between the education rate (EDUR) and GDP highlights the necessity of investing in education. Government and private sector initiatives should prioritize enhancing educational access and quality, particularly in lower-income regions.