ABSTRACT

Financial development is considered as a vital tool in any inclusive growth decision since we are aware that adequate and accessible financial information and data creates link a between an economy and its financial institutions This study was therefore an attempt to find out the relationship between financial development and inclusive growth in the Nigerian economy and to know the factors necessary for attaining a higher level of growth through inclusive growth in Nigeria The work has been written in chapters in line with the Nigerian economy The researcher made use of secondary data collected from the CBN statistical bulletin for the study The study also went through hypothesis testing process data presentation and analysis It was there by discovered that financial development has a negative relationship with inclusive growth in Nigeria I found out that a unit increase the ratio of broad money supply to GDP and the ratio of credit allocated to the private sector to GDP would cause a decrease in per capita income by a certain percentage This implies that once reliable and accessible financial information are provided in an economy it leads to efficient allocation of finances and adequate management of these funds which in turn leads to adequate participation of these sectors in the growth process of the economy This leads to inclusive growth in the Nigerian economy On the contrary if these resources are mismanaged due to inadequate development in the financial system it hinders growth