Economic Growth And Development In Nigeria Pdf

economic growth and development in nigeria pdf

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Published: 12.05.2021

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This however has been hindered by inadequate resources needed to drive the process of growth and development. One of the key components fronting the movement in support of economic globalization and integration is capital flows considering its complementarity effect in bridging the gap between domestic savings and investment. This study therefore examines the impact of capital flows on economic growth in Nigeria using data covering the period to and sourced from the Central Bank of Nigeria. The method of error correction model framework and autoregressive distributed lag was adopted in estimating our specified model. Findings from our estimated model reveal that capital flows significantly affect economic growth in Nigeria.

Revenue generation and economic growth of Nigeria

They see industrialization and agriculture as an integral part of development and structural change. A person who organises, operates and assumes the risk for a business venture. According to Ojo industrialization could be seen as the process by which the industrial sector of such a country or region increases its share in gross domestic product GDP , employment, poverty alleviation efforts, investment and so on. Nigeria is under -industrialized as a result of lip services being paid to technical t-ducation. Some economic analyst are of the view that industries play a vital role in the economic growth and development of any country. It raises the productive capacity of the people and creates ever-increasing employment opportunities. This work will be relevant to entrepreneurs and government by directing them on the easiest means of embarking on an industrial development plan.

Further, the study reveals that governance, legal/security as well as political institutions all negatively impact economic growth/development. The study concludes.

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So, All of authors and contributors must check their papers before submission to making assurance of following our anti-plagiarism policies. The essence of revenue generation is to advance the welfare of citizens of a country with focus on promoting economic growth and development through the provision of development activities. Despite remarkable growth recorded in revenue generation the physical state of the nation in terms of social amenities and infrastructure remain backward.

Tax revenue is frequently considered as an alternative form of sustainable financing within a stable and predictable fiscal environment to promote growth and enable governments to finance their social and infrastructural needs. The objective of the study is to examine the effect of tax revenue on economic growth of Nigeria and Ghana. The study used multiple regressions as tools of analysis. The study finds a positive impact of tax revenue on the gross domestic product of Nigeria and Ghana confirming prior studies. The study recommended among others that adequate measure to ensure that revenue generated from the tax is effectively utilized to develop and grow the economy.

There are four findings from this research: there exists a negative relationship between the gross domestic product GDP and inflation rate IR ; there exists a negative relationship between GDP and net inflow NI ; there exists a positive relationship between the GDP and foreign private investment FPI ; and there exists a positive relationship between the GDP and external reserve ER. The major practical implication of this paper is that government, financial institutions, immigration departments and Nigerian professionals in Diaspora have a monumental role to play for positive, timely and accurate documentation of international migration data and inflow of remittances for developmental purposes. Raimi, L. Emerald Group Publishing Limited.

This site uses cookies to optimize functionality and give you the best possible experience. If you continue to navigate this website beyond this page, cookies will be placed on your browser. Nigeria is a multi-ethnic and culturally diverse federation which consists of 36 autonomous states and the Federal Capital Territory. The political landscape is partly dominated by the ruling All Progressives Congress party APC which holds out of seats at the National Assembly; 64 out of seats in the Senate; and 19 out of 36 State Governors. Since , the Nigerian security landscape has been consistently shaped by the war against Boko Haram terrorist group in the northern states.

Nwaogwugwu Ed. Fiscal discipline is very vital to the development and growth of all the countries of the world. The literature, nonetheless, stresses that developing nations such as Nigeria are mostly prone to challenges emanating from fiscal indiscipline. The current study therefore empirically investigates the effects of fiscal discipline in the form of policy uncertainty, corruption, budgeting reforms, fiscal policy sustainability and crowding-out on financial development and economic growth using the ARDL bounds testing approach for the case of Nigeria in the period. The study shows that policy uncertainty, corruption and fiscal deficits have significant negative relationship with financial development and economic growth both in the short and long-run.

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