TREND OF INFLATION AND ECONOMIC GROWTH IN NIGERIA: ROLES OF GOVERNMENT THROUGH CENTRAL BANK OF NIGERIA (2004-2022)
Abstract
ABSTRACT
This study examined the effect examine trend of inflation and economic growth in Nigeria:
roles of government through central bank of Nigeria. The specific objectives of the study
were to examine the effect of inflation rate, exchange rate and monetary policy rate on
economic growth in Nigeria. Gross domestic product was used to measure economic growth
and the study covered period of 15 year spanning from 2008 – 2022. Ex-post facto research
design was and secondary data were obtained from Central Bank of Nigeria Statistical
Bulletin. E-View was as statistical tool. Descriptive statistic, normality test and least square
was used to test hypotheses at 5% level of significance value. The study found that inflation
negative and significant effect on economic growth of Nigeria. Secondly, it was disclosed that
monetary policy rate has significant effect on economic growth of Nigeria. Finally, it was
discovered that exchange rate has significant and positive effect on economic growth of
Nigeria. Hence, the study concluded that inflation has negative significant on economic
growth of Nigeria. Therefore, it was Effective policy should be made based on the fiscal and
monetary policies which should be aimed at achieving a realistic exchange rate for naira.
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