摘要：Without sufficient and effective development finance economic growth and development areimpossible. Healthy development finance in a country ensures capital formation, higherproductivity, better standard of living for citizens and stable and growing economy. Policymeasure of development finance intervention which supplies capital in form of finance and creditto the productive sectors of the economy is important and in fact necessary for meaningfuleconomic growth and development. The state of economic development in Nigeria is invariablyassociated with extent of the growth and development of the financial institutions. Developmentfinance is any finance, donation or credit geared towards achieving economic growth anddevelopment in an economic system. This paper examines and assesses the relationship andeffects of Central Bank of Nigeria’s development finance policy on economic growth anddevelopment of Nigerian economy. Central bank of Nigeria development finance is the financialinitiatives involved in the formation and implementation of policies, schemes, programmes andinnovations for the provision and supply of credit, loans, finance, donations and funds to theproductive sectors of the economy to deliver economic services in an effective, efficient andsustainable manner to achieve economic growth and development. Central Bank of Nigeria playsa development finance roles through its credit schemes like agriculture credit guarantee scheme.The major findings of the study were greater number of the productive sectors of Nigeria lackaccess to adequate finance and credit this reduces their total productive capacity and affects theeconomy negatively. However, Central Bank of Nigeria’s development finance policies andschemes have increased the productivity, investment, savings, employment and output of theproductive sectors of Nigeria. In this case the development finance has enhanced the progress of Nigerian economy. The conclusion derived from the findings as contained in the recommendations includes: the three tiers of governments should give the central bank of Nigeria’s development finance policy and schemes necessary support, adequate attention and publicity. Sufficient and adequate fund and finance should be provided to development finance schemes. Effective monitoring mechanism and written rules and regulations should be implemented with (development goals) to guide the operation and performance of the development finance schemes. There is the necessary need to increase, improve and encourage development finance institutions in Nigeria in order to accelerate inflow of capital to the sectors of the economy to facilitate economic growth and development
