JOURNAL OF LIAONING TECHNICAL UNIVERSITY
(NATURAL SCIENCE EDITION)
LIAONING GONGCHENG JISHU DAXUE XUEBAO (ZIRAN KEXUE BAN)
辽宁工程技术大学学报（自然科学版）
IMPACT OF GREEN FINANCING ON ECONOMIC SUSTAINABILITY IN NIGERIA
AJAYI Ibidolapo Ezekiel,OGUNRO Victor Olukayode and AYORINDE Babatunde Femi
ABSTRACT
The study analysed how green financing affects Nigeria's long-term economy from 1986 to 2023. The autoregressive distributed lag (ARDL) model as estimated technique, the result revealed that green bonds have negative and long-term effect on the human development index (-0.238177, 0.7947). Green investments was negative and insignificant long-term impact on the human development index (-3.674105, 0.7564), while green loans was negative and insignificantly impacted on human development index in Nigeria (-0.064880, 0.9421) and concluded that green finance indices a negative and insignificant influence on Nigeria's economic sustainability in Nigeria in the long run. To increase green finance, the government should reinvigorate the green bond market, cut loan interest rates, and stimulate private sector green projects.
Keywords: Green Bond, Green Loan, Green Investment and Human Development Index