EFFECT OF RECESSION ON NIGERIA ECONOMIC GROWTH AND DEVELOPMENT
- Project Research
- 1-5 Chapters
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 5000
Abstract
This study focuses on the impact of recession on economic growth in Nigeria from 1980 to 2017. The Nigerian economy recently has been plunged into recession. This is as a result of over dependence on imports, falling prices of oil revenue, low investment inflows and high level of corruption. The study uses two multiple regression analysis of time series data on selected macroeconomic variables. The Augmented Dickey Fuller (ADF) unit root test, Johansen cointegration test and Error Correction Mechanism (ECM) were adopted and analysed. The research findings revealed negative impact of recession on economic growth in Nigeria and on the lives of Nigerians. It also brings out the deeper structural problems inherent in the Nigerian economy and proffer solutions to pull Nigeria out of the recession. This result is in line with the findings of Agri, Mailafia and Umejiaku (2017). It therefore recommends positive change on the part of Nigerian government and Nigerians in general for structural, fiscal and monetary reforms that will spur growth through government – private partnership. The study therefore concludes that Nigeria can come out of the recession a better country only if it can diversify its economy
and avoid over-dependence on oil revenue, patronise made in Nigeria goods, be able to attract investment inflows into the economy and above all, free itself from corruption which is a hindrance to economic growth. In doing this, Nigeria can come out of the recession a better country.
Related Project Materials
PROSPECT AND CHALLENGES OF FOREIGN EXCHANGE GAINS AND LOSSES TAXATION
Abstract: PROSPECT AND CHALLENGES OF FOREIGN EXCHANGE GAINS AND LOSSES TAXATION
This study explores the prospects and challenges associat...
CAUSES AND EFFECT OF TWITTER BAN ON NIGERIA CITIZENS
ABSTRACT
The focus of this study is to identify the causes and effects of the Twitter ban on Nigeria...
THE EFFECT OF TERRORISM IN DEVELOPING COUNTRIES: IT’S SIGNIFICANCE TO DEVELOPMENT AND PROGRESS (A CASE STUDY OF NIGERIA)
BACKGROUND TO THE STUDY
Terrorism and insurgency is globally becoming a household word as there is no nation that is com...
An examination of the effectiveness of distance learning for nursing students in National Open University of Nigeria, Abuja
Background of the Study
Distance learning has become an increasingly popular mode of education, especially in situations where traditiona...
ANALYSIS OF THE LAW ON COMPANY MEETINGS IN CONTEMPORARY CORPORATE GOVERNANCE IN NIGERIA
ABSTRACT
This study analyzed the Law on Company Meeting in Modern Day Corporate Governance in Nigeria. It principally discussed the conce...
The effect of gerrymandering on political representation at the grassroots: A study of Ilorin West Local Government Area, Kwara State
Background of the study
Gerrymandering, the manipulation of electoral district boundaries for political a...
THE IMPACT OF EARLY CHILDHOOD EDUCATION ON LATER FINANCIAL LITERACY
ABSTRACT: This research investigated the impact of early childhood educat...
The impact of rural development initiatives on local economies in Nigeria: An evaluation of policies in Benue State (2000–2020).
Background of the Study:
Rural development initiatives are crucial for bridging the gap between urban and rural areas, enhancing local ec...
SOCIO-ECONOMIC IMPACT OF CRISIS AND MILITANCY ON TOURISM DESTINATION IN SOUTH-WEST NIGERIA
EXCERPT FROM THE STUDY
The Niger-delta region in Nigeria is arguably one of the most naturally endowed location on the A...
The role of early intervention programs in enhancing cognitive development in children with disabilities in Makurdi LGA, Benue State
Background of the Study
Early intervention programs have emerged as a pivotal approach to mitigating the developmental cha...
