Economic Potentials and Nigeria’s Sustainable Economic Growth Nexus: The Role of Institutional Quality

Abstract

Nigeria is endowed with diverse human and natural resources that has the potential to transform the country to become a major player in the global economy and put it on an unimpeded growth. However, these potentials have relatively remained untapped over the years and have not translated to high level of sustainable growth and development in the country. The study employs an econometric methodology. The Ordinary Least Squares (OLS) method was used to analyze the data from 1999 to 2021. The regression results revealed that the coefficient of NR, IQ and HDI indicates an insignificant and negative slope meaning that the economic potentials of Nigeria have not really impacted on economic growth for the period under study. The study recommended among others the need for diversification and value chain integration, provision of legal backing to development plans/projects and promote functional expertise and meritocracy in leadership recruitment/selection

Citation:  Opuala-Charles S., Oshilike I.V (2022) Economic Potentials and Nigeria’s Sustainable Economic Growth Nexus: The Role of Institutional Quality, International Journal of Development and Economic Sustainability, Vol.10, No.5, pp.49-61

 

Keywords: economic potentials; sustainable economic growth; institutional quality; natural resources; human development index; corruption perception index;

DOI: https://doi.org/10.37745/ijdes.13/vol10n54961

Article Review Status: Published

Pages: 49-61 (Download PDF)

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