Authors: Uyiosa Omoregie
A country’s financial system facilitates economic growth by ensuring that funds are available when and where they are required. The provision of alternative financing windows available to operators in the real sector is dependent on the structure of the financial system is place. The Government can ensure (through polices put forward) that transparency and fairness is the norm in the financial sector, this will go a long way towards sustainable economic growth in Nigeria. The financial sector that creates sustainable economic growth must be resilient and strong, with institutional development as a priority, this sector must facilitate fund mobilization for the low-income people to increase and stabilize their income and assets. An investment-friendly interest rate regime (single digit) is a pre-requisite for economic growth in Nigeria, because it would encourage lower costs of borrowing and credit expansion. Tax incentives policies must be maintained to encourage large-scale investment in the economy.
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