Effect of Public Expenditure on Economic Growth of Nigeria

Résumé

This study determined the effect of Public Expenditure on Economic Growth of Nigeria for twenty three years period ranging from 2000-2022, using national defense expenditure and infrastructure development expenditure while economic development was measured with Real Gross Domestic Product. The study employed secondary data extracted from Central Bank of Nigeria (CBN) Annual Reports and Statement of Accounts and Statistical Bulletins of various issues, National Bureau of Statistics (NBS) bulletin, Budget Office of the Federation. Longitudinal (Ex-post facto) research design was employed for the study. Data were analyzed using Descriptive Statistics, Multicollinearity Test via E-Views 10.0. The result shows that there is a significant and positive relationship between national defense expenditure, infrastructure development expenditure and RGDP at 5% level of significance; the study recommended among others that Government should diversify and develop economic infrastructure such as roads, social and community services, transport and communication to boost trade openness and economic growth in Nigeria.