Unlocking the Potential of Digital Finance for Sustainable Development in Nigeria’s Economy

Edwin Sunny Echu, Nathaniel Jide Ogundare, Maryam Tijjani Abba, Abdullahi Muhammad Misau and Jaafar Aliyu Liman
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Edwin Sunny Echu: Department of Business Administration, Faculty of Management Sciences, University of Jos, Jos Nigeria
Nathaniel Jide Ogundare: Department of Business Administration, Faculty of Management Sciences, University of Jos, Jos Nigeria
Maryam Tijjani Abba: School of management science, Federal Polytechnic Bauchi, Department of marketing
Abdullahi Muhammad Misau: Bam Dept, School of Information, Office Technology and Management. Azare Campus Atap, Bauchi State
Jaafar Aliyu Liman: School of management Study, Dept of Business Administration and management, Abubakar Tatari Ali polytechnic Bauchi.

International Journal of Research and Innovation in Social Science, 2024, vol. 8, issue 6, 2509-2524

Abstract: This study aims to explore the potential of digital finance in driving sustainable development in Nigeria’s economy. The research focuses on defining and highlighting the importance of key constructs related to digital finance. The study also outlines its aims and objectives, which include assessing the impact of digital finance on economic growth, financial inclusion, and financial stability. To achieve these objectives, a positivist approach was adopted, utilizing a sample size of 384 participants. Data analysis was conducted using regression analysis to examine the relationships between digital finance and the desired outcomes. The study also tests three null hypotheses which were all rejected to establish significant associations between digital finance and sustainable development indicators. The technology acceptance model (TAM) served as the underpinning theory for this research, providing a framework to understand users’ acceptance and adoption of digital finance solutions. Additionally, the capability approach theory was used as a supporting theory to explore the role of digital finance in enhancing individuals’ capabilities and well-being. In conclusion, this study shed light on the potential of digital finance in promoting sustainable development in Nigeria’s economy. The findings will contribute to the existing literature on the subject and provide valuable insights for policymakers, financial institutions, and other stakeholders. Based on the research outcomes, the study recommends the adoption and utilization of digital finance to drive sustainable economic growth, financial inclusion, and stability in Nigeria.

Date: 2024
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