BANKING AND FINANCE PROJECT TOPIC: GREEN FINANCE AND ECONOMIC GROWTH IN NIGERIA
Abstract
This study investigates the relationship between green finance and economic growth in Nigeria. Green finance refers to financial investments that promote environmentally sustainable projects, including renewable energy, pollution control, and climate change mitigation. The study adopts a quantitative research approach using secondary data obtained from sources such as the Central Bank of Nigeria (CBN) and the World Bank. Econometric techniques, including regression analysis, are employed to analyze the impact of green financing indicators on Nigeria’s Gross Domestic Product (GDP). Findings reveal that green finance has a positive and significant effect on economic growth by supporting sustainable development, improving energy efficiency, and attracting foreign investments. However, challenges such as inadequate policy implementation, limited awareness, and insufficient funding hinder its full potential. The study concludes that strengthening green finance frameworks can enhance Nigeria’s economic growth while ensuring environmental sustainability. It recommends that policymakers, financial institutions, and stakeholders intensify efforts toward promoting green financial instruments and policies.
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