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Economics and Social Science Academic Journal

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HomeESSAJ Vol. 5, No. 2 SECTORAL SPENDING AND ECONOMIC DEVELOPMENT IN NIG…
📄 Research Article ESSAJ Vol. 5, No. 2 (2023)

SECTORAL SPENDING AND ECONOMIC DEVELOPMENT IN NIGERIA

Omekwe Sunday & Omiekuma Paul
Niger Delta University, Wilberforce Island, Bayelsa State, Nigeria
Economics and Social Science Academic Journal, Vol. 5, No. 2 (2023), pp. 1-13 | DOI:
Open Access Peer Reviewed Research Article

Abstract

This study examined the effect of public spending on economic development in Nigeria from 1980 to 2020. The study was induced by the insufficient and fluctuatory federal government budgetary allocations to some critical sectors such as agricultural, education and construction sectors that tend to prompt the existence of deteriorate academic and food production, as well as infrastructural decay amongst others. Thus, the specific objectives of the study were to; examine the impact of total government spending in agricultural, education and construction sectors on economic development in Nigeria. In doing this time series were collected from CBN bulletin from 1980-2020. The unit root test, Johansen cointegraton test and Error Correction Mechanism were employed for the analysis. The ADF unit root, Johansen cointegraton test showed that all the variables were stationary and have long run relationship respectively. The results of the parsimonious error correction model showed that, total government spending in the agricultural, education and construction sectors have positive relationship with economic development. In conclusion, government fiscal activity via public spending is crucial to achieving economic development in Nigeria. Based on the findings, the study recommended amongst others that, government should increase her spending in viable infrastructure in order to increase the level of growth and development in the Nigerian economy.  
Keywords: Economic, Development, Government, Infrastructure, Public, Spending
📑 How to Cite This Article
APA 7th Edition:
Omekwe Sunday, Omiekuma Paul (2023). SECTORAL SPENDING AND ECONOMIC DEVELOPMENT IN NIGERIA. Economics and Social Science Academic Journal, 5(2), 1-13. https://doi.org/
Vancouver Style:
Omekwe Sunday, Omiekuma Paul. SECTORAL SPENDING AND ECONOMIC DEVELOPMENT IN NIGERIA. Econ. Soc. Sci. Acad. J.. 2023;5(2):1-13. DOI:
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