INFRASTRUCTURAL DEVELOPMENT AND ECONOMIC GROWTH OF NIGERIA
Bennee, Emmanuel; Okoye, Pius V.C. and Amahalu, Nestor N.
Department of Accountancy
Nnamdi Azikiwe University, Awka
This study examined the relationship between Infrastructure Development Expenditure and Economic Growth of Nigeria for twenty one (21) years period ranging from 2000-2020. The study employed secondary data extracted from Central Bank of Nigeria (CBN) Annual Reports and Statement of Accounts and Statistical Bulletins of various issues, National Bureau of Statistics (NBS) bulletin, Budget Office of the Federation, World Economic data base, United Nations statistical bulletin, International Monetary Fund (IMF) Government Finance Statistics Year Book (various issues) of Nigeria for the study period. The study adopted Longitudinal (Ex-post facto) research design via E-Views 10.0. The result revealed that a significant and positive relationship exist between infrastructure development expenditure (t-Statistic = 2.908787 < 0.05) and RGDP at 5% level of significance. It was recommended inter alia that Government should diversify and develop economic infrastructure such as roads, social and community services, transport and communication to boost trade openness and economic growth in Nigeria.
Keywords: Infrastructure Development Expenditure, Economic Growth and GDP