IMPACT OF TRANSPORTATION ON ECONOMIC GROWTH: AN ASSESSMENT OF ROAD AND RAIL TRANSPORT SYSTEMS IN LAGOS STATE
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- NGN 3000
ABSTRACT
The study looked at impact of transportation infrastructure improvement on economic growth in Lagos state between 1981 and 2011 using Central Bank of Nigeria (CBN) statistical bulletin data. This study makes use of the econometric technique in evaluating the relationship between transportation sector infrastructure sector infrastructure components and economic growth in Lagos state, Nigeria, The Ordinary Least Square (OLS) technique is employed in obtaining the numerical estimates of the coefficients in different equations. The result shows that Improvement in transportation infrastructure are related to transport industry efficiency, creation of social and economic benefit, reduced cost associated with transportation which leads to greater productivity, reduce distribution cost, thereby reduce production cost, expand market, increase employment demand, and increasing National output.
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