EVALUATION OF THE INTERMEDIATION ROLE OF THE DEPOSIT MONEY BANKS ON THE REAL SECTORS OF THE NIGERIAN ECONOMY (1999 – 2008)

ABSTRACT
This paper assesses the impact of intermediation roles of banks on the performance of the
real sectors of the Nigerian economy. The main objective is to find out if the banking
industry loans and advances have any significant effect on the real sectors GDP growth
rate. The research design adopted in this dissertation was ex-post facto, that is, the use of
secondary data. The researcher simply analyzed reported documentations of the study
variables extracted from Central Bank of Nigeria (CBN) and Nigerian Deposit Insurance
Company (NDIC).

The population of the study was 25 deposit money banks operating in
Nigeria after the recent consolidation that took place in the banking industry. The sample
of the study was made up of the same 25 deposit money banks as the number is small
hence manageable. By judgmental sampling real sectors of the Nigerian economy is
represented by agriculture, manufacturing and mining. The data for this work were
collected by the use of documentary data collection method from the published annual
reports of Central Bank of Nigeria and Nigerian Deposit Insurance Company. The data
collected were subjected to statistical analysis using the SPSS version. Parametric
statistics in forms of mean and standard deviation, ANOVA, the student t-test, coefficient
of correlation and simple linear regression were used to analyze research
questions and hypotheses. The study found that there is no significant effect of banking
industry’s credits on the GDP growth of agriculture and mining sectors but it
significantly impacts positively on the manufacturing component of GDP.
The study recommends among other things that CBN should continue to collaborate with
all stakeholders in repositioning the banking industry to maximally contribute its quota to
the country’s real GDP growth rate. Again, there is need for close monitoring of the
credit facilities extended to these sectors especially the agricultural sector as some of
these facilities are diverted to other personal uses rather than for the purpose they are
meant for.

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