Empirical Analysis Of The Effects Of Gross Domestic Product On Nigeria Economy:- Nwaeke Euphemia U

Abstract

The research work established that industry (X2), building and construction (X3), wholesale and retail trade (X4), and services (X5) contributed most to the economy [measured by consumer price index] in Nigeria for the period 1980 — 2008 where as agriculture (Xi) does not contribute significantly to the economy on the same period. In the course of this project, data on the economy measured by consumer price index and gross domestic product indicators which include agriculture, industry, building and construction, whole sale and retail trade and services were collected from the central bank of Nigeria statistical bulletin volume 18. On sample test for normality was carried out on the economy measured by consumer price index which established that economy was drawn from a normally distributed population. Test for constant variance established that the variance of the economy was constant over the years. Based on the findings, I recommend that all hands should be on deck to foster economic growth in Nigeria in the years ahead.