Tag Archives: Real Gross Domestic Product

Influence of Foreign Direct Investment on Economic Growth in Nigeria (1989- 2019) (Published)

The aim of this study is to determine the Influence of Foreign Direct Investment in Economic Growth and Deployment of Nigeria. The study employed Ordinary Least Square (OLS) method of estimation using multiple regression analysis. The data generated for this study comprises of Foreign Direct Investment (FDI), Real Gross Domestic Product (RGDP) and Exchange Rate (EXR). The data was sourced from Central Bank of Nigeria statistical bulletin spanning the period of 1989-2019 (30years). We found that FDI has positive and significant influence on real economic growth. EXR also has positive and significant impact on economic growth in Nigeria. Results also showed that the overall regression is significant at 5% level of significance given that the F-statistic is 0.0000 which is less than 0.05. Based on the results, the study recommends an improvement in the level of institutional development on which the inflow of FDI is based. The study also recommends that government should as a matter of urgency takes appropriate measures in order to stabilize the exchange rate that may attract more investors in the country for desired economic growth and Development.

Keywords: Foreign Direct Investment, Real Gross Domestic Product, exchange rate and economic growth.

Tax Revenue and Nigerian Economic Growth (Published)

This study was designed to investigate the tax revenue and Nigerian economic growth for period of three decade, using time series data from 1986 to 2015. The objective of this study was to examine the significant difference between the effects of oil and non oil tax revenue on economic growth in Nigeria. Data collected from Central Bank of Nigeria (CBN) Statistical Bulletin and National Bureau of Statistics (NBS).The study utilized both descriptive and Paired Sample T-test with the aid of Statistical Package for Social Science (SPSS) Version 23.The findings showed that, oil and non oil tax revenue were positive and strongly correlated with Real Gross Domestic Product (RGDP) with coefficient( r = .902, P< 0.05) and (r = .975, P< 0.05). The results also showed that, there was significant difference between the effects of oil and non oil tax revenue on RGDP as shown ( t29 = 11.424 , P< 0.05) and ( t29 = 10.968, P< 0.05). Findings also showed that, oil and non oil tax revenue contributed 7.7% and 2.5 % to RGDP from 1986-2015. This research work concluded that, there was significant difference between the effects of oil and non oil tax revenue on economic growth in Nigeria. There should be accountability and transparency from government officials on the management of revenue derived from taxation (oil and non oil) in Nigeria.

Keywords: Oil and Non Oil, Real Gross Domestic Product, Tax Revenue, economic growth

Effect of Trade Liberalization on Economic Development in Nigeria, 1980-2013 (Published)

The study explores the relationship between trade liberalization and economic growth in Nigeria. Two equations were estimated in which index of industrial production proxied as yearly average capacity utilization as a function of degree of openness, terms of trade and real export. Similarly, in the second equation, real gross domestic product as a function of degree of openness, terms of trade, real export and trade liberalization dummy was estimated. A vector error correction model was employed for the study in which results show that openness of the foreign sector and trade liberalization dummy have positive significant impact on both industrial performance and economic growth in Nigeria within the period under review. The paper therefore recommended for the removal of all known impediments to trade such as excessive import levies and arbitrary tariffs.

Keywords: Cointegration, Index of Industrial Production, Real Gross Domestic Product, Trade Liberalization, Vector Error Correction Model

DOMESTIC DEBT AND POVERTY IN NIGERIA: AN EMPIRICAL TIME SERIES INVESTIGATION (Published)

This work is an empirical investigation of the relationship between domestic debt and the poverty of Nigeria (1986-2012), using the Ordinary Least Square Technique, Vector Auto regression (VAR), Cointegration and Granger Causality Approaches. Using Johansen Cointegration technique, estimated results revealed that there is a long-run relationship between poverty {measured by real gross domestic product (RGDP), per capita gross domestic product (GDPPC), and basic secondary school enrolment} and domestic debt in Nigeria. The study equally reveals that the domestic debt coefficient has positive impact on bank credit and this impact is highly significant. Such credit provides place for rural development project so as to reverse the chaotic trend of urbanization, industrialization, and create lucrative market advancement in the country’s manufacturing sector, thereby, improving the welfare of the citizens.  Hence, the study recommends that Government should make efforts to settle the outstanding domestic debt. This will give room for proper conduct of monetary policy in the economy.  This is necessary because excessive domestic debt sometimes have negative effect on growth, if it persists. The study equally recommends that Government should make available cheaper funds to the investing public so as to help them boost their various investment activities.

Keywords: Basic Secondary School Enrolment, Per capita Gross Domestic Product, Poverty, Real Gross Domestic Product