GOVERNMENT EXPENDITURE: A CATALYST FOR ECONOMIC GROWTH IN NIGERIA
In the quest to unravel the intricate dynamics shaping Nigeria's economic trajectory, this study delves into the relationship between capital expenditure and economic growth over a three-decade period, spanning from 1992 to 2021. The ex-post facto research design was adopted, using historical...
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| Format: | Article |
| Language: | English |
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Kwara State University, Malete Nigeria
2024-10-01
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| Series: | Malete Journal of Accounting and Finance |
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| Online Access: | https://majaf.com.ng/index.php/majaf/article/view/138 |
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| author | Alexander Tunde OGUNTUASE Temitope Esther OYENEYE Jayeola OLABISI Oluwapelumi Damilola OYEDELE |
| author_facet | Alexander Tunde OGUNTUASE Temitope Esther OYENEYE Jayeola OLABISI Oluwapelumi Damilola OYEDELE |
| author_sort | Alexander Tunde OGUNTUASE |
| collection | DOAJ |
| description |
In the quest to unravel the intricate dynamics shaping Nigeria's economic trajectory, this study delves
into the relationship between capital expenditure and economic growth over a three-decade period,
spanning from 1992 to 2021. The ex-post facto research design was adopted, using historical data
extracted from Central Bank of Nigeria (CBN) statistical bulletins. Augmented Dickey Fuller (ADF)
unit root test was carried out to test for the stability of data. Co-integration test was done with Johansen
and Engle-Granger methods. Findings showed that, when lagged by one year, government expenditure
on education has a positive and insignificant relationship with gross domestic product. While
government expenditure on healthcare has a positive and significant relationship with the gross
domestic product; government expenditure on transportation has a negative and insignificant
relationship with the gross domestic product; and government expenditure on agriculture has a negative
and significant relationship with the gross domestic product. The study concluded that budgetary
allocation and implementation of expenditure on education, transport, and agriculture were not
properly allocated and utilized to improve the nation’s productive capacity. The study suggested that
the allocation and execution of budget to the identified critical sectors should be more done carefully
for accelerated economic growth.
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| format | Article |
| id | doaj-art-635130055a59435ba075b5fbb6ac62cd |
| institution | Kabale University |
| issn | 2735-9603 |
| language | English |
| publishDate | 2024-10-01 |
| publisher | Kwara State University, Malete Nigeria |
| record_format | Article |
| series | Malete Journal of Accounting and Finance |
| spelling | doaj-art-635130055a59435ba075b5fbb6ac62cd2025-02-10T23:06:25ZengKwara State University, Malete NigeriaMalete Journal of Accounting and Finance2735-96032024-10-0142GOVERNMENT EXPENDITURE: A CATALYST FOR ECONOMIC GROWTH IN NIGERIAAlexander Tunde OGUNTUASE0Temitope Esther OYENEYE1Jayeola OLABISI2Oluwapelumi Damilola OYEDELE3Crawford University, Igbesa, Ogun StateAnchor University, Lagos.Federal University of Agriculture, AbeokutaFederal University of Agriculture, Abeokuta In the quest to unravel the intricate dynamics shaping Nigeria's economic trajectory, this study delves into the relationship between capital expenditure and economic growth over a three-decade period, spanning from 1992 to 2021. The ex-post facto research design was adopted, using historical data extracted from Central Bank of Nigeria (CBN) statistical bulletins. Augmented Dickey Fuller (ADF) unit root test was carried out to test for the stability of data. Co-integration test was done with Johansen and Engle-Granger methods. Findings showed that, when lagged by one year, government expenditure on education has a positive and insignificant relationship with gross domestic product. While government expenditure on healthcare has a positive and significant relationship with the gross domestic product; government expenditure on transportation has a negative and insignificant relationship with the gross domestic product; and government expenditure on agriculture has a negative and significant relationship with the gross domestic product. The study concluded that budgetary allocation and implementation of expenditure on education, transport, and agriculture were not properly allocated and utilized to improve the nation’s productive capacity. The study suggested that the allocation and execution of budget to the identified critical sectors should be more done carefully for accelerated economic growth. https://majaf.com.ng/index.php/majaf/article/view/138Economic growtheducationhealthcaretransportationagriculture |
| spellingShingle | Alexander Tunde OGUNTUASE Temitope Esther OYENEYE Jayeola OLABISI Oluwapelumi Damilola OYEDELE GOVERNMENT EXPENDITURE: A CATALYST FOR ECONOMIC GROWTH IN NIGERIA Malete Journal of Accounting and Finance Economic growth education healthcare transportation agriculture |
| title | GOVERNMENT EXPENDITURE: A CATALYST FOR ECONOMIC GROWTH IN NIGERIA |
| title_full | GOVERNMENT EXPENDITURE: A CATALYST FOR ECONOMIC GROWTH IN NIGERIA |
| title_fullStr | GOVERNMENT EXPENDITURE: A CATALYST FOR ECONOMIC GROWTH IN NIGERIA |
| title_full_unstemmed | GOVERNMENT EXPENDITURE: A CATALYST FOR ECONOMIC GROWTH IN NIGERIA |
| title_short | GOVERNMENT EXPENDITURE: A CATALYST FOR ECONOMIC GROWTH IN NIGERIA |
| title_sort | government expenditure a catalyst for economic growth in nigeria |
| topic | Economic growth education healthcare transportation agriculture |
| url | https://majaf.com.ng/index.php/majaf/article/view/138 |
| work_keys_str_mv | AT alexandertundeoguntuase governmentexpenditureacatalystforeconomicgrowthinnigeria AT temitopeestheroyeneye governmentexpenditureacatalystforeconomicgrowthinnigeria AT jayeolaolabisi governmentexpenditureacatalystforeconomicgrowthinnigeria AT oluwapelumidamilolaoyedele governmentexpenditureacatalystforeconomicgrowthinnigeria |