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One of the core macroeconomic goals in every economy is the
pursuit of growth which relies on an economy’s ability to accelerate the
accumulation rates of financial, human and physical capital, and effectively
enable the access of the entire population to these assets. This study therefore,
analysed the impact of financial development and financial inclusion on
economic growth in Nigeria from 1981–2019. Adopting the classical linear
regression modelling technique, the results showed that financial development
and financial inclusion have significant positive impact on economic growth in
Nigeria. The study therefore recommended that government should make
policies that would enable financial intermediaries mobilise funds more
efficiently and also make these funds accessible and affordable to individuals
(even at the lowest segments of the society), businesses, as well as other
productive sectors of the economy. This is how financial development and
financial inclusion will continue to enhance growth in Nigeria.
