BANKS LENDING RATE: PANACEA FOR MANUFACTURING SECTOR PERFORMANCE IN NIGERIA

Ighoroje Ese James

Department of Banking and Finance,

Delta State Polytechnic, Ozoro

ABSTRACT

The study seeks to evaluate the Banks Lending Rate: Panacea for Manufacturing Sector Performance in Nigeria. Data was sourced from the CBN statistical bulletin (various issues). The data were subjected to descriptive statistics and the Parsimonious Error Correction Mechanism of the OLS was used to test the hypotheses. It was find out that there is a significant relationship between sub-prime lending rate and the performance of the manufacturing sector in Nigeria. The study went further to recommend that the Central Bank of Nigeria should review downward the monetary policy rate.

Keywords:  Lending Rate, Manufacturing