IIARD International Institute of Academic Research and Development

INTERNATIONAL JOURNAL OF SOCIAL SCIENCES AND MANAGEMENT RESEARCH (IJSSMR )

E-ISSN 2545-5303
P-ISSN 2695-2203
VOL. 10 NO. 4 2024
DOI: https://doi.org/10.56201/ijssmr.v10.no4.2024.pg216.229

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Total Size of Public Spending and Nigeria Economy: A Statistical Analysis

Nwaoha, William Chimee, Onwuka, Onwuka Okwara, Eze, Regina Chekwubechi, Ikoro, Uzoma Eunice, Akandu, Victor Chigozie

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Abstract

This study used a systematic time series econometrics approach to examine the impact of total size of public spending (proxy by Total Federal Government Expenditure) on economic growth (proxy by GDP) of Nigeria during the period 1981-2022. The data such as Total Federal Government Expenditure (TFGE) and Gross Domestic Product (GDP) were obtained from Central Bank of Nigeria (CBN) statistical bulletin and National Bureau of Statistics (NBS). The data set were subjected to preliminary test and the ADF result revealed that all the variables were integrated at I(1) indicating a long-run relationship between the dependent and independent variables while the Error Correction Model (ECM) techniques was used to estimate the model. The result of the findings revealed that TFGE exert positive and significant impact on GDP.

keywords:

TFGE, GDP, ADF, ECM, CBN

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References:

Abu, N., & Abdullahi, U. (2010). Government expenditure and economic growth of Nigeria,1970-
2008. A disaggregated analysis. Business and Economic Journal, 2(4), 120-135.

Ahuja, D., & Pandit, D. (2020). Public Expenditure and Economic Growth: Evidence from the
Developing Countries. FIIB Business Review, 2319714520938901.

Aigbeyisi, O. S. (2013). The relative impacts of capital and recurrent expenditures on Nigeria’s
economy (1980-2011). American Journal of Economics, 3(5), 210-221.

Akanbi, O. A. (2014) Government expenditure in Nigeria: determinants and trends. Mediterranean
Journal of Social Sciences, 5(27), 98-107.

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