Journal • CITN Journal

Editorial Board

Editor-in-Chief

Professor Rafiu Oyesola Salawu

Department of Management & Accounting, Faculty of Administration, Obafemi Awolowo University, Ile-Ife

Managing Editor

Professor Godwin Emmanuel Oyedokun

Department of Management & Accounting, Lead City University, Ibadan, Nigeria

Editorial Board Secretary

Mary-Fidelis Chidoziem Abiahu

Director, Research and Professional Standard, Chartered Institute of Taxation of Nigeria

Editorial Board Members

Professor Chinedum Nathaniel Nwezeaku

Federal University of Technology, Owerri

Professor John Adeoti

Nigeria Institute of Social and Economic Research (NISER), Ibadan

Professor Uche Jack-Osimiri

Faculty of Law, River State University, Port Harcourt

Professor Aruwa Suleiman Akwu-Odo Salihu

Nasarawa State University, Keffi Nasarawa State Nigeria

Dr. Eiya Ofiafoh Ofiafoh (Associate Professor)

Department of Accounting, University of Benin, Benin City, Nigeria

Dr. Stephen Chukwuemeka Mark Abani

MCSA Worldwide Projects Limited, Abuja, Nigeria

Dr. Kenny Adedapo Soyemi

Department of Accounting, Olabisi Onabanjo University, Ago Iwoye, Ogun State, Nigeria

Professor Joseph Uchenna Uwaleke

Department of Banking & Finance, Nasarawa State University, Keffi Nasarawa State, Nigeria

Barrister Chukwuemeka Eze

Faculty of Law, Nasarawa State University, Keffi Nasarawa State, Nigeria

Mr. Simon Nwanmaghyi Kato

Federal Inland Revenue Service, Chairman’s Office, Abuja, Nigeria

INFLATION TARGETING AND INDUSTRIAL PERFORMANCE IN NIGERIA (1991 – 2023)

Description

INFLATION TARGETING AND INDUSTRIAL PERFORMANCE IN NIGERIA (1991 – 2023)

Authors

EGBEWOLE Abdulazeez Bunmi, AKANBI Saad Babatunde and ALABI Moshood Kolawole

Abstract

The study investigates the impact of inflation targeting on industrial sector development in Nigeria covering periods from 1991 to 2023. The analytical methods employed include Augmented Dickey-Fuller unit root test, Johansen test for co-integration and Error Correction Mechanism. The study found that inflation target exerts significant inverse influence on industrial development in Nigeria after 24 months. Consequently, the Central Bank of Nigeria (CBN) should be more consistent in monetary policy and establish credit guarantee scheme for small scale entrepreneurs in the industrial sector similar to the agricultural credit guarantee scheme.

Keywords: