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COMMERCIAL BANK-CREDITS AND NIGERIAN ECONOMIC DEVELOPMENT
A B S TR A C T
This study the role of commercial bank-credit on Nigerian economic development. Development component is broken down into growth and human development to identify the implications of commercial bank-credit components from 1986 to 2021. Using the finance-growth theory, the study is ex-post from both the Central Bank of Nigeria (CBN) statistical bulletin and the World Bank Data Atlas report of various years, and are subjected to the Auto Regressive Distributed Lag (ARDL) technique and Bound test. Findings showed a strongly significant bank-credit impact on economic growth and human development index. However, the individual variables reacted to the dependent variables differently but collectively impacted the outcome of the dependent variables significantly. The study recommends improved bank-credit to industrial sectors of the Nigerian economy which will increase production output, and thus, improves the economic growth and human development index. Single digit inflation rate should be pursued to avoid pulling down the value of the currency and subsequent economic development.
Keywords: Bank credit; economic growth; human development index; economic development.