Public Investment in Infrastructure and Economic Growth in Nigeria (1980-2020)
Publication Date: 05/09/2021
Author(s): Enya Fred Ota, Ezeali Benjamin O. (PhD).
Volume/Issue: Volume 4 , Issue 3 (2021)
Abstract:
The paper examined Public Investment in Infrastructure and the Economic Growth of Nigeria. The study adopted Econometric analysis using E-View. The stationarity test carried out in the study showed that all the variables were all stationary at first difference,1(1) and because of this the researchers proceeded to determine evidence of co-integration among the variables, hence the result of the co-integration test shows that there is evidence of 2 co-integration equations which shows that there is a long run relationship among the variables. The ECM test was well signed having -0.019307 with a good Adjusted Coefficient of determination of 92.78% with a joint statistical probability of 0.00000. The study had it that Public Investment in Technology, Educational infrastructure and Power all have positive relationship with the Economy whereas Transport has negative relationship with the Economy. The study went further to conclude that Public Investment plays important roles in stimulation the Nigerian Economy especially in this era of democracy.
Keywords:
Public Investment, Infrastructure, Economic Growth, Nigeria
