IIARD International Institute of Academic Research and Development

IIARD International Journal of Economics and Business Management (IJEBM )

E-ISSN 2489-0065
P-ISSN 2695-186X
VOL. 3 NO. 4 2017

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Impact of National Savings on Economic Growth in Nigeria (1990- 2015)

Stephen Egoro A. & Obah Daddy Obah

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Abstract

This research work analyzed the impact of National Savings on economic growth in Nigeria (1990-2015). Secondary data was adopted and sourced from CBN statistical bulletin. Ordinary Least Square with the aid of E-view version 9 was used to determine the effects of National Savings on Gross Domestic Product. The result showed that there is a positive and significant relationship between National Savings and Gross Domestic Product in Nigeria. The study recommends amongst others that; Government should ensure an adequate macroeconomic policies that will open up the economy in order to encourage foreign direct investment inflow and make Nigeria an export platform, where export commodities could be manufactured for established international market; so as to Strengthen Nigeria’s term of trade and induce Savings, Proper financial market development that would be able to meet the saving needs of the surging business world.

keywords:

National Savings, Economic Growth

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