Financial Linkages in the Nigerian Economy: An Extended Multisectoral Model on the Social Accounting Matrix

This study constructs a social accounting matrix for Nigeria for 2010. An extended multisectoral model is calibrated to analyze the backward (power) and forward (sensitivity) dispersion to identify the key industries in the economy and their importance to other industries in the economy. The study identifies financial services as one of the key industries of the Nigerian economy, highlighting its greater importance and role in boosting economic growth. Several policy options may be simulated to investigate the spillover effects in the whole economy.