TITLE:
MONETARY POLICY AND NIGERIAN ECONOMY
AUTHORS:
Abolade Francis AKINTOLA, Ruth Tolulope OMOSEBI, Thomas Ayobami BABARINDE, Oluwatoyosi Tolulope OLURIN, Chituru Nkechinyere ALU
Page: 47-73 Vol: 19 Issue: 12 Year: 2024
ABSTRACT
Monetary policy plays an important role in the economic growth of any nation. This research looks at how Nigeria’s monetary policies affected the country’s economic development from 1994 and 2021. For this study, the Central Bank of Nigeria Statistical Bulletin was utilized. The study looked into how Nigeria’s monetary policies affected the country’s economic growth using a time series research approach. While the empirical analysis was based on a multiple regression model that described the gross domestic product in terms of the influence of monetary variables, graphs were employed to augment the descriptive analysis. The study’s findings showed that monetary policy positively impacted Nigeria’s economic expansion. The study came to the conclusion that monetary policies are essential to Nigeria’s long-term economic growth. The study’s result suggests that monetary authorities in Nigeria use monetary policy to address the issue of the country’s poor economic growth.
Keywords:
Economic growth, Exchange rate, Liquidity ratio, Monetary policy, Money supply.
Received: 12 November 2024
Accepted: 28 November 2024
Published: 07 December 2024
