The Effect of Interest Rates as an Instrument for Financial Repression on Nigeria's Economic Growth

<p><strong><span>Abstract</span></strong></p> <p><strong><em><span>This study investigated the effect of interest rate on the economic growth of the Nigerian economy. The study determined the effect of interest rate on economic growth of Nigeria. The data for the study was obtained from the statistical bulletin of the Central Bank of Nigeria from 1986-2021. ARDL Technique was used for the analysis of data. It was found that Interest Rate and Broad Money Supply have a positive significant effect on GDP whereas, Inflation Rate was found to be negatively related to GDP. The study generally recommended that interest on loan funds should be repressed for investors to reinvest profits.<span>  </span></span></em></strong></p> <p><strong><em><span> </span></em></strong></p> <p><strong><span>Keywords: Interest Rate, Financial Repression, Economic Growth, Inflation, ARDL</span></strong></p>