IMPACT OF GOVERNMENT EXPENDITURE ON ECONOMIC GROWTH IN NIGERIA (2012–2021)
Abstract
This study examines the impact of government expenditure on economic growth in Nigeria over the period 2012–2021. Specifically, the study investigates the relationship between recurrent expenditure, capital expenditure, and Gross Domestic Product (GDP). Secondary data were sourced from the Central Bank of Nigeria (CBN) Statistical Bulletin, and regression analysis was employed using SPSS version 23 to analyze the data.
The findings revealed that both recurrent and capital expenditures have positive but statistically insignificant relationships with economic growth in Nigeria during the period under review. The results indicate that variations in GDP are largely explained by factors other than government expenditure components included in the model.
The study concludes that despite increased government spending, its impact on economic growth has not been significant, possibly due to inefficiencies, misallocation of resources, and corruption. The study recommends improved management of public funds, increased investment in productive sectors, and strengthening of anti-corruption institutions to ensure that government expenditure contributes meaningfully to economic growth.
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