Public Expenditure and Human Development in Nigeria

Obioma O. Ajaero, Ngozi G. Iheduru and G. Nwachukwu Ifeoma
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Obioma O. Ajaero: Department of Accountancy, Alvan Ikoku Federal University of Education Owerri, Imo State.
Ngozi G. Iheduru: Department of Accountancy Imo State University, Owerri Imo State
G. Nwachukwu Ifeoma: Department of Accountancy, Alvan Ikoku Federal University of Education Owerri, Imo State.

International Journal of Research and Innovation in Social Science, 2024, vol. 8, issue 5, 97-111

Abstract: The aim of the study was to examine the relationship between public expenditure and human development in Nigeria from 2003 to 2022. The study utilized secondary data from online publications of Central Bank of Nigeria (CBN) statistical bulletin and United Nations Development Programme (UNDP) human development report for the period 2003 to 2022. Data collected were analyzed with multiple regression analyses. Results from the Least Square System Regression showed that while recurrent expenditure had insignificant effect on HDI, capital expenditure had significant effect on HDI in Nigeria. The findings therefore show that expenditure on infrastructure improves human lives. Musgrave theory of public expenditure, Keynesian theory and capability approach could be relied upon for studies on public expenditure and human development in Nigeria. Those in practice should understand that recurrent expenditure on key areas such as health and education which indirectly improves gross national income per capita should be greatly encouraged. Policy that increases capital expenditure which is aimed at improving rural areas especially food and allied industries remains very key for human development.

Date: 2024
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Persistent link: https://EconPapers.repec.org/RePEc:bcp:journl:v:8:y:2024:i:5:p:97-111

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