Evaluation of the Determinants of Economic Growth in Nigeria

Mustapha M. Kime, Mohammed Modu and Lawan A. Bukar
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Mustapha M. Kime: Department of Economics Umar Ibn Ibrahim El-Kanemi College of Education Science and Technology, Bama Borno State, Affiliate University of Maiduguri
Mohammed Modu: Department of Economics Umar Ibn Ibrahim El-Kanemi College of Education Science and Technology, Bama Borno State, Affiliate University of Maiduguri
Lawan A. Bukar: Department of Economics Umar Ibn Ibrahim El-Kanemi College of Education Science and Technology, Bama Borno State, Affiliate University of Maiduguri

International Journal of Research and Innovation in Social Science, 2023, vol. 07, issue 11, 01-18

Abstract: This project examines the determinant of economic growth in Nigeria using time series economic data spanning from 1990 to 2022. Macroeconomic variable used includes foreign direct investment foreign aid population and GDP. The stationarity process of the variables was tested using ADF and PP unit root test. The study also employs Auto regressive distributed lag model in assessing the determinants of economic growth in Nigeria. Johansson cointegration test is applied in testing cointegration relation while direction of causality among the variable was analyzed using granger causality test. Unit root test result reveals that all the variable becomes stationary after first differencing. Finding based on ARDL estimation indicates significant and insignificant impacts of GDP lagged, FDI, POP and AID on economic growth in Nigeria. Cointegration test result reveals the presence of cointegration relation among the variable. Other findings based on the direction of causality shows the absence of causal relationship among the variable. It is recommended that Nigerian Governments should provide an enabling environment to attract foreign direct investment.

Date: 2023
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