Vol. 1 No. Vol. 1, Issue 2 (2026) · Women & economic inclusion
Financial Dualism and Financial Inclusion as Correlate of Economic Growth in Nigeria: A Correlational Study Survey
Sennuga, M. A.; Adedayo, T. G.; Adebayo, M. O.; Stanley, U. E.; Olusanya, R. O.
pp. 1 – 11
Abstract
This study investigated the relationship between financial dualism, financial inclusion and economic growth in Nigeria using a correlational survey design with 612 economically active adults. Data were gathered via the Financial Dualism, Financial Inclusion and Economic Growth Questionnaire (α = 0.82) and analysed with Pearson correlation and regression. Results showed a significant positive correlation between financial dualism and economic growth (r = 0.413, p < 0.05), between financial inclusion and economic growth (r = 0.270, p < 0.05), and a joint effect (R = 0.447, R² = 0.200, F = 76.092, p < 0.05). The study recommends policies that promote cooperation between formal and informal financial institutions to support sustainable economic growth.