Abstract
The debate about overreliance on oil and its non-sustainability to resolve major economic problems in Nigeria has shifted more attention to the real sector of the Nigerian economy. Over a few years ago, the government and the monetary authority have refocused their economic and policy decisions to include the growth of the sector.
Highlights
In the modern-day discussions on sustainable economic development, the real sector is among the sectors that have been considered as major drivers of economic performance (Adeusi and Aluko, 2015)
The estimate of contemporaneous response of credit to real sector to shocks from credit risk is 11.67059, which suggests a reduction in credit/funds to the real sector during the period of high credit risk
The real sector in Nigeria has been given some level of attention in the past few years
Summary
In the modern-day discussions on sustainable economic development, the real sector is among the sectors that have been considered as major drivers of economic performance (Adeusi and Aluko, 2015). In the past few years in Nigeria, there has been a deliberate effort by the governments, where they have focused more on the sector, to complement and save the country from frequent economic shock from oil. The Nigerian economy has over the years been tied to its crude oil. This resulted in neglect of the real sector that was the pride of the nation and major source of foreign exchange before and after independence, until the discovery of oil. Monetary and fiscal policies have always been the major tools used by the governments across the globe, including Nigeria, to improve economic performance, and studies have been carried
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