ABSTRACT
The
study investigates the impact of public capital expenditure on Selected
Economic Performance Indices the period 1981-2015. The data for the study were
sourced from various issues of the Central Bank of Nigeria’s statistical
bulletin. The data was subjected to unit root test using Augmented Dickey
fuller (ADF) approach to ascertain the time series properties. Descriptive
statistics was used to assess the socioeconomic characteristics of the
variables. Due to the mixed order of integration witnessed in the unit root,
ARDL- Autoregressive Distributed Lag approach was used for cointegration and
regression analysis. The results found
that Public capital expenditure has negative and statistically significant (tcal
= -2.6996) impact on the Nigerian economy proxied by GDP growth rate.
Also, Public capital expenditure is negatively signed and statistically
significant (tcal = -2.903) in influencing Inflation Rate (INFR),
while Public capital expenditure has no (tcal = 1.36925) statistically
significant influence on the Poverty Rate (POVR). The findings implies that
capital expenditures in Nigeria has the potential to accelerate economic
performance when given the adequate attention it deserves. Sequel to the findings,
this study recommends that Government should ensure that capital expenditure are
properly managed in a manner that will raise the nation’s productive capacity
and accelerate economic growth. Furthermore, Nigerian Government should
increase its investment in production sectors and encourage skillful and
willing citizens to participate since this would reduce the expenses being
incurred on business as a result of low currency value and raise the
profitability of firms. Also, there should be more capital expenditure on the
following sectors - education, electricity, economic services, health sectors
through increased funding, as well as ensuring that the resources are properly
managed.
JIDEOFOR, J (2022). The Impact Of Public Capital Expenditure On Selected Economic Performance Indices In Nigeria (1981-2015). Mouau.afribary.org: Retrieved Oct 31, 2024, from https://repository.mouau.edu.ng/work/view/the-impact-of-public-capital-expenditure-on-selected-economic-performance-indices-in-nigeria-1981-2015-7-2
JIDEOFOR, JIDEOFOR. "The Impact Of Public Capital Expenditure On Selected Economic Performance Indices In Nigeria (1981-2015)" Mouau.afribary.org. Mouau.afribary.org, 06 Oct. 2022, https://repository.mouau.edu.ng/work/view/the-impact-of-public-capital-expenditure-on-selected-economic-performance-indices-in-nigeria-1981-2015-7-2. Accessed 31 Oct. 2024.
JIDEOFOR, JIDEOFOR. "The Impact Of Public Capital Expenditure On Selected Economic Performance Indices In Nigeria (1981-2015)". Mouau.afribary.org, Mouau.afribary.org, 06 Oct. 2022. Web. 31 Oct. 2024. < https://repository.mouau.edu.ng/work/view/the-impact-of-public-capital-expenditure-on-selected-economic-performance-indices-in-nigeria-1981-2015-7-2 >.
JIDEOFOR, JIDEOFOR. "The Impact Of Public Capital Expenditure On Selected Economic Performance Indices In Nigeria (1981-2015)" Mouau.afribary.org (2022). Accessed 31 Oct. 2024. https://repository.mouau.edu.ng/work/view/the-impact-of-public-capital-expenditure-on-selected-economic-performance-indices-in-nigeria-1981-2015-7-2