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Bullion

Keywords

Financial resources, Growth, Nigeria's financial policy, Resource mobilization, Savings, Investment

Abstract

Financial resources for growth are from several sources because no single source could provide the required funding. The major known sources of resources for growth are based to both the informal sector and formal sector activities which include the fiscal operations of the Government foreign sector transactions, capital market activities, and institutional savings mobilisation in the financial sector which is the focus of this paper. This paper is organised in five sections. The introduction constitutes Section One which provides the background, the objective and the organisation of the paper. In section Two, the conceptual framework of financial resource mobilisation is reviewed. This is followed in Section Three by a review of Nigeria's experience in mobilising savings for growth. Section Four examines the processes of transforming savings into investment and growth as well as the constraints identified while Section Five provides a summary and conclusion with a pointer to future prospects.

Author Bio

The author is a staff of Central Bank of Nigeria.

Publication Title

CBN Bullion

Issue

2

Volume

20

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