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Infrastructure and economic growth in Nigeria: A multivariate approach

Authors: ONAKOYA Adegbemi , Salisu Afees, Oseni Isiaq Olasunkanmi

Publication Type: Journal article

Journal: Research Journal Of Business Management And Accounting

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Abstract

This paper attempted to investigate the impact of infrastructure on economic growth in Nigeria. A multivariate model of simultaneous equations was deployed. The paper also utilized three-stage least squares technique to capture the transmission channels through which infrastructure promotes growth. The research covered 40 years (1970 to 2010). The finding shows that infrastructural investment has a significant impact on output of the economy directly through its industrial output and indirectly through the output of other sectors such as manufacturing, oil and other services. The agricultural sector is however not affected by infrastructure. The results also show a bi-directional causal relationship between infrastructure and economic growth. The paper recommended increased investment in infrastructure. Also, the financing options for closing Nigeria’s infrastructure gaps should focus on broadening the sources of finance and a better allocation of public resources In this wise, the government should intensify the utilization of the public-private-partnership (PPP) framework. Infrastructure, causality, economic growth, macroeconometric model, economy of Nigeria.

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ONAKOYA,A. Salisu,A.A Oseni,I.O . (0000). Infrastructure and economic growth in Nigeria: A multivariate approach, 1 (), 30-30.

ONAKOYA,A. Salisu,A.A Oseni,I.O . "Infrastructure and economic growth in Nigeria: A multivariate approach" 1, no (), (0000): 30-30.

ONAKOYA,A. and Salisu,A.A and Oseni,I.O and . (0000). Infrastructure and economic growth in Nigeria: A multivariate approach, 1 (), pp30-30.

ONAKOYAA, SalisuAA, OseniIO, . Infrastructure and economic growth in Nigeria: A multivariate approach. 0000, 1 ():30-30.

ONAKOYA,Adegbemi , Salisu,A. Afees, and Oseni,Isiaq Olasunkanmi . "Infrastructure and economic growth in Nigeria: A multivariate approach", 1 . (0000) : 30-30.

O.Adegbemi S.A. Afees & O.Isiaq Olasunkanmi , "Infrastructure and economic growth in Nigeria: A multivariate approach" vol.1, no., pp. 30-30, 0000.

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