RESPONSIVENESS OF THE GROWTH OF THE NIGERIA ECONOMY TO THE REVENUE PROFILE OF THE GOVERNMENT

Achu Tonia Chinedu, Chukwunweike Stella Nneka and Awa Kalu Idika
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Achu Tonia Chinedu: Department of Banking and Finance, Enugu State University of Science and Technology, Enugu, Nigeria.
Chukwunweike Stella Nneka: Department of Banking and Finance, Enugu State University of Science and Technology, Enugu, Nigeria.
Awa Kalu Idika: Department of Financial Studies, Faculty of Management Sciences, National Open University of Nigeria, Lagos, Nigeria.

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Abstract: This study was set out to evaluate the impact of government revenue on the growth of the Nigerian economy. Using time-series data covering the period 1981 to 2018 and adopting the ARDL framework, the study tested for both short-run and long-run relationship including adjustment profile. It was found that economic growth is a positive and significant function of oil revenue in Nigeria within the studied period. Nonoil revenue was found to positively but non-significantly affect the growth of the Nigerian economy. A long run cointegrating relationship was found amongst the studied variables with the error correction model showing an 11% adjustment speed from short-run disequilibrium to long run equilibrium. Based on the finding, it is recommended that government should diversify the economy to allow for enhanced revenue and growth.

Date: 2019-11-26
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Published in Journal of Economics, Management and Trade, 2019, 4 (1), pp.16-24

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05305948

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