International records / OpenAlex research

Effect of Micro-Finance Banks in Economic Growth of Nigeria

Microfinance institutions play a critical role in promoting economic development in developing nations, particularly in Nigeria, where access to financial services remains limited for many segments of the population. This study employs the Ordinary Least Squares (OLS) regression analysis to assess the impact of microfinance banks on Gross Domestic Product (GDP) growth in Nigeria from the period 1990 to 2023 using secondary data obtained from Central Bank of Nigeria. The findings reveal that microfinance bank liabilities exert a negative and statistically insignificant influence on real GDP gro…