Economic and Financial Review


O. J. Nnanna


Central Bank of Nigeria, Research Department.


Savings and investment, National development, Investment culture


The paper examined the performance of Nigeria's savings and investment profile relative to some selected economies of the world. It noted that the fundamental issues militating against an effective savings and investment culture in Nigeria has remained, financial sector distress, high inflationary expectation, low yield on investments and inappropriate institutional structures. Amongst the various efforts being made to enhance savings and investment culture in Nigeria, the paper identified the recently introduced National Savings Certificate ( NSC) as a key investment window for the low income group with attractive yield and thus, a strong alternative to bank deposits, the proposed pension scheme was expected to enhance savings for increased investment, if well implemented.

Author Bio

o. J. Nnanna, Ph.D. is the Director, Research Department at the Central Bank of Nigeria, Abuja





Recommended Citation

Nnanna, O. J. (2003). Promoting savings and investment culture for national development. Economic and Financial Review, 41(3), 1-10.

Included in

Economics Commons



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