Scholars, academicians, and economists have continued to pay close attention to financial development and how it relates to economic progress. Depending on the country, the discussion takes many different forms. We have attempted to assess the relationship between financial development and economic growth in Nigeria in this study, departing from previous research by incorporating a wide range of distinct financial development indicators into our model and evaluating the relationship between finance and growth using various econometric techniques between the years of 1986 and 2021. The Engel and Granger residual-based cointegration test and the Error Correction model are two of the analytical methods used. The results suggest that whereas trade openness was shown to have a favourable but negligible impact on growth, domestic credit to the private sector (PSC) and stock market capitalisation (MCAP) are negatively and significantly associated with economic growth. GDP growth decreased by 0.16 percent and 0.08 percent, respectively, as a result of unit changes in PSC and MCAP. On the other hand, an increase of one unit in trade openness was linked to an increase of 0.07 percent in GDP growth. We were able to determine the corrective influence on adjustment speed thanks to the error correction term in the model, which showed that mistakes of divergence from equilibrium were being corrected at a rate of 44% annually. According to the Granger causality tests, GDP was a granger causal factor for foreign direct investment. Stock market capitalisation was discovered to cause GDP without a feedback system, but not the other way around. We advise making an effort to guarantee that credit provided to the private sector is invested in the actual productive sectors of the economy rather than being misdirected or incorrectly allocated. This will eventually result in a rise in production for both domestic use and export. By extension, trade openness will be greatly increased and will start to have a favourable impact on the economy.