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International
Journal of Political Science and Development |
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International Journal of Political Science and Development Vol. 4(3), pp. 75–81, March, 2016. DOI: 10.14662/IJPSD2016.020 ISSN: 2360-784X
Research Paper
The Impact of Central Bank of Nigeria’s Development Finance Role on Economic Growth and Development of Nigeria
Dr. Nasir Ahmad Sarkin Dori B.Sc., M.Sc., MPhil., PhD. ACNIM, MIDFPM, FCAI.
Faculty of Arts and Social Sciences, Department of Political Science, Federal University Dutse P.M.B 7156 Dutse, Jigawa State, Nigeria. E-mail: nhanasir2003@yahoo.com
Accepted 16 April 2016
This paper
examines and assesses the effects of Central Bank of Nigeria’s
development finance role on economic growth and development of the
Nigerian economy, with special reference to Central Bank of Nigeria’s
Credit Schemes. The findings from the study revealed that the state of
economic development in Nigeria is invariably associated with extent of
the growth and development of the Central Bank of Nigeria’s Development
finance. The Central Bank of Nigeria’s Credit schemes have increased the
level of credit inflow which increased the level of productivity,
employment generation, agricultural output, domestic trade, rural
development, exports, foreign earnings and import substitution in
Nigeria. These improved the level of economic growth and development of
the Nigerian economy. The conclusion derived from the findings as
contained in the recommendations includes: the three tiers of
Governments should give the Central Bank of Nigeria’s development
finance schemes necessary support, adequate attention and publicity.
Government must established effective monitoring mechanism that will
monitor and guide the operation and performance of the development
finance schemes. There is the necessary need for Government to increase,
improve and encourage private development finance institutions in
Nigeria in order to accelerate inflow of credit to the productive
sectors of the economy. Cite This Article As: Dori NAS (2016). The Impact of Central Bank of Nigeria’s Development Finance Role on Economic Growth and Development of Nigeria. Inter. J. Polit. Sci. Develop. 4(3): 75-81.
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