Examining the Influence of Digital Financial Institution on Green Growth and Industrial Output Nexus in Nigeria: A Structural VAR Approach

In achieving the Sustainable Development Goals (SDGs) between 1983 and 2024, this study looks at how digital financial institutions impact Nigerian manufacturing and green economic growth. The Central Bank of Nigeria (CBN) Statistical Bulletin, the National Bureau of Statistics (NBS), and the World Development Indicators (WDI) were the sources of the data. The analysis employed a Structural Vector Autoregression (SVAR) model, which is well-suited for identifying the structural effects of economic shocks. The findings suggest that digital financial institutions positively influence green economic growth. However, manufacturing output contributed the least to the observed variations, showing that the sector's GDP contribution responds only marginally and positively to changes in digital financing. Based on these findings, the study recommends strengthening the digital financial infrastructure by developing a more inclusive and efficient digital finance access framework to better support green economic growth.