Effect of Central Bank Monetary Policy on the Growth of the Nigerian Economy

Banking and Finance — 2025, Undergraduate

This study examined the effect of Central Bank of Nigeria monetary policy on the growth of the Nigerian economy. A longitudinal design was adopted using secondary data on interest rates, money supply, inflation, and gross domestic product. Data were analysed using descriptive statistics and regression techniques. The findings revealed that policy rates and money supply growth significantly influenced credit availability, inflation, and output growth, although transmission was weakened by structural rigidities. The study also found that policy had uneven effects across sectors. It recommends coordinated monetary and fiscal measures, deepened financial markets, and improved policy transmission mechanisms.

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