Financial Inclusion, Capital Market and Economic Growth in Nigeria

Adefioye Edumaretola Gabriel, Daneji Kamal Labaran, Paul Joseph and Adegoriola Adewale
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Adefioye Edumaretola Gabriel: Federal University Lafia, Nigeria
Daneji Kamal Labaran: Federal University Lafia, Nigeria
Paul Joseph: Federal University Lafia, Nigeria
Adegoriola Adewale: Federal University Lafia, Nigeria

International Journal of Research and Innovation in Social Science, 2025, vol. 9, issue 2, 503-531

Abstract: Financial inclusion is a key accelerator of economic growth, as the poor and businesses are allowed access to financial services that aid in building up savings, investment, and consumption. It has attracted great concern in the world from various international organizations spanning the globe arguing for inclusive financial systems and a focus of momentous interest among policy makers, scholars, and other stakeholders (Demirguic-kunt & Klapper, 1998; Global Financial Development Report [GFDR], 2014; Jack & Tanveet, 2014; Methrotra & Yetman, 2015). In international environments, financial inclusion is prominent in the reform agenda. For instance, financial inclusion is mentioned under several of the United Nations Sustainable Development Goals (SDGs) (International Monetary Fund, 2015; Lagarde, 2014; United Nations, 2014). At the national level, large gaps in access to finance have prompted policymakers in more than sixty countries to set formal targets for financial inclusion, and about two-thirds of regulatory and supervisory agencies are now charged with enhancing financial inclusion (GFDR, 2014).

Date: 2025
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