THE IMPACT OF DOMESTIC INVESTMENT ON NIGERIA ECONOMIC GROWTH
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ABSTRACT
Impact of Domestic Investment on Nigeria Economic Growth. Impact of domestic investment on Nigeria economic growth with references. The researcher analyzed the domestic investment and capital formation on Nigeria economy, literature and trends of investment in Nigeria was reviewed. Data from Central Bank of Nigeria (CBN) Statistical Bulletin was used. The Ordinary Least Square (OLS) technique was specified and used to examine the relationship between the variables which includes the Gross Domestic Product as the dependent variable, export, Exchange rate, foreign direct investment and trade openness as the independent variables. The explanatory power of the model was given by the R2 of 85.5% and was subjected to t-test and f-test to test the significance of the independent. Domestic investment was discovered as a leading determinant of sustainable economic growth and an agent of balance of payment surplus.
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