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April 28, 20260 citationsOpen Access

Connection Between Insurance Penetration and Economic Growth in Nigeria

Nexus between insurance penetration and economic growth: Evidence from Nigeria

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Authors

OFOlajide Solomon Fadun

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Overview

Ex-post facto study examines insurance's impact on economic growth in Nigeria, suggesting strategies for improvement.

Key Points

  • To examine the relationship between insurance penetration and economic growth in Nigeria from 2004 to 2017.
  • Ex-post facto research design was used.
  • Secondary data sourced from multiple national and international databases for 14 years.
  • Data analysis conducted using Ordinary Least Square (OLS) method.
  • Life insurance penetration positively impacts economic growth in Nigeria.
  • Non-life insurance penetration and insurance density negatively impact economic growth.
  • Claims settlement does not have a significant impact on economic growth in Nigeria.

Cite This Study

Olajide Solomon Fadun (2022) studied this question.

synapsesocial.com/papers/69f04e5b727298f751e723a9https://doi.org/10.83026/njri.vol11no1.1388
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