THE IMPACT OF INFRASTRUCTURAL DEVELOPMENT ON ECONOMIC GROWTH OF NIGERIA
Abstract
ABSTRACT
“This study examined the impact of infrastructural development on economic growth of Nigeria. The specific objective of the study is outlined as follows: ascertain the impact of transport infrastructure on economic growth in Nigeria; to analyze the impact of power infrastructure on economic growth in Nigeria, to evaluate the impact of information communication technology (ICT) infrastructures on economic growth in Nigeria. The study adopted the OLS estimation technique in determining the relationship between infrastructure and economic growth. Data were sourced from Central Bank of Nigeria (C.B.N) a period of 23 years 2000-2023. The analysis began with a descriptive statistics, unit root test & co-integration test to ascertain the viability of the data. The variables for the model include; TRANS, ELEC, ICT, FDI and GFCF. The study shows that ELEC and FDI has a positive impact on economic growth of Nigeria. The study recommends the implementation of report thus advocates for policy actions to enhance the availability of energy supplies in Nigeria so as to boost its aggregate output and to enhance economic performance also, since FDI contributes positively the growth and development of the economy, the researcher therefore suggest investment incentive policy."
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