FINANCIAL DEVELOPMENT AND PERFORMANCE OF INDUSTRIAL SECTOR IN NIGERIA

Abstract

This study ascertained the financial development and performance of the industrial sector in Nigeria, using broad money supply and variation index of industrial production for financial development and performance of the industrial sector respectively.  Ex Post Facto research design was adopted for the study. Data were extracted from Central bank Statistical Bulletin from1986 to 2020. Analysis was done with Auto-Regressive Distributive Lag (ARDL) estimation technique via E-view 10.0. This study revealed that financial development measured by broad money supply and savings significantly explained and affected the variation in industrial sector output in Nigeria. It was recommended that the Central Bank of Nigeria (CBN) should continue to strengthen and regulate the process of financial procedures on areas of industrial sector and ensure commercial banks give adequate priority of their funds to industrial production due to its inherent benefits.