Evaluating Effects of Domestic Public Investment in Communication on Nigeria’s Economic Growth

Uchechukwu Daniel Abada; Basil Izundu Chinyelu Okoli

Abada, Uchechukwu Daniel (PhD, ACIB, AMNIM) Department of Banking and Finance, Madonna University Nigeria, Okija Campus
Okoli, Basil Izundu Chinyelu, MBA Department of Business Management & Marketing, Baze University, Abuja

Keywords: Communication, Domestic Public Investment, Economic Growth, Development, Nigeria

Abstract

This study focused on evaluating the effect of communication sector domestic public investment (DPI) on economic growth in Nigeria. The data of DPI in communication from 1999 – 2019, extracted from the Central Bank of Nigeria statistical bulletin, were used to investigate if DPI in communication has a positive effect on economic growth in Nigeria. The study analyses were conducted using linear regression with the Ordinary Least Squares (OLS) technique and Granger causality technology. The findings indicated that DPI in communication did not have a positive and significant effect on economic growth in Nigeria. The findings also revealed that the causality relationship between DPI and economic growth in Nigeria was lacking over the 20–year study period. The current findings thus, suggested that government spending should be channelled to affect the economy to promote growth and development in the process.