Financial Liberalization and Nigerian Economic Growth: 1990-2018

This study examined the Effect of Financial Liberalization on Nigerian Economic Growth (1990-2018) using secondary data from Statistical bulletin of Central Bank of Nigeria. The research work selected Nigeria as its sample and used the ECM to test the effect of the independent variables (Foreign direct investment, Interest rate, Trade openness, Foreign portfolio investment, Currency exchange rate Aggregate savings) on the dependent variable, economic growth (proxy by Gross Domestic Product). The study found that financial liberalization had negative and insignificant effect on economic growth of Nigeria. The study therefore recommends among others that Government should aim at creating conditions which make private investment attractive, avoid drastic policy reversal and implement appropriate interest rate policies.