In light of faltering sustainability in growth and development in Nigeria, this study evaluates the Micro Finance Banks Sectoral influence on the development of the Nigerian Economy over the period of 1992 to 2017, utilizing secondary data culled from the Central bank of Nigeria Statistical Bulletin and the World Bank. The study employed the use of Stationarity, Multiple Regression, Johansen’s Co-integration and Error Correction estimates. While the Co-integration results indicated significant long run relationship among the study variables, the Multiple Regression and Vector Error Correction estimates both point to Apportioned Microcredit to mining/quarrying, real estate/construction and transport/general commerce sectors as the sectoral microcredit that significantly influence Nigeria’s human development index both in the short and long terms respectively. Only Apportioned Microcredit to the mining/quarrying, real estate/construction and transport/general commerce sectors are valuable in predicting variations in economic development as captured by Human Development Index. In light of the above, it was thus recommended that other sectoral activities should be revamped according to their level of insignificance as more efforts should be devoted to the Agricultural sector, manufacturing sector and other sectors of the economy and there should be incentive to sensitize the populace about microfinancing which would bolster deposit based and help disbursement in the right direction, promotion of economic, political and social stability amongst others