Financing the real sector for sustainable economic growth in Nigeria: performance, challenges and prospects.

Abstract

This paper examined some of the challenges constraining the financial sector in stimulating sustainable growth in Nigeria. The challenges highlighted in this work includes: poor property right protection; poor corporate governance system; lack of competitiveness of the real sector; lack of competition in the economy; poor entrepreneurship development and lack of development of rating agencies in Nigeria. It observed that for a successful real sector financing in Nigeria, a culture of accountability and transparency in the conduct of our national affairs must be taken seriously. The quality of governance must also be improved, to ensure that the legal framework for economic activities is well strengthened, such that the protection of creditors‘ rights may not be jeopardised.