THE IMPACT OF INTEREST RATES ON ECONOMIC GROWTH IN NIGERIA (1990-2023)
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Nigeria’s economy has faced a number of difficulties that have hurt overall economic activity, in addition to international crises that have had a significant impact on global commodity prices. Structural imbalances brought on by the drop in oil prices, which drastically cut the country’s revenue, made this situation even worse. This study examines the effect of interest rates on economic growth in Nigeria from 1990 to 2023. The results imply that interest rates have a negligible impact on economic expansion, suggesting that lowering interest rates could boost growth by encouraging investment. Therefore, the study suggests that interest rate policies that promote economic growth be put into place by Nigerian policymakers. Adopting the right policies is essential to accelerating economic growth.
| Pages | 28-33 |
| Year | 2025 |
| Issue | 1 |
| Volume | 5 |
