IMPACT OF PRIVATIZED SECTORAL INVESTMENT ON ECONOMIC GROWTH IN NIGERIA

Authors

  • Johnbest Churchill OLOGHODO PhD Financial Studies Department, National Open University of Nigeria
  • David Ojofedo UGBAJE PhD Department of Accounting, Nasarawa State University, Keffi.
  • Olufemi YEYE PhD Financial Studies Department, National Open University of Nigeria
  • Musa Andrew KESWET Financial Studies Department, National Open University of Nigeria

Keywords:

Privatized sectoral investment, Economic growth, Gross domestic product, Internally government revenue

Abstract

This study explored the impact of privatized sectoral investment on economic growth in Nigeria. It
employed ex-post facto research design, utilizing existing data. Descriptive statistics were used for data
analysis, and multiple regression analysis was applied to estimate the relationships in the model. The
Central Bank of Nigeria (CBN) Statistical Bulletin and the National Bureau of Statistics (NBS) covering
the period from 2000 to 2023 serve as the sources of data for this study. The results of this study show the
mixed impact of various economic factors on Nigeria's GDP. Capital expenditure is statistically
insignificant and positively related to economic growth, suggesting that it has little impact on GDP, but
internal revenues (IGRs) have negative and insignificant effects, implying that increasing IGRs does not
necessarily contribute to economic growth. Conversely, investment (INV) has had a significant positive
impact on GDP and highlights its crucial role in driving economic expansion. These results agree with
some existing studies, but are contrary to others. it is recommended that further research and policy
adjustments be made to improve the efficiency of capital expenditure and income generation in the
promotion of sustainable economic growth in Nigeria.

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Published

2025-06-24

How to Cite

OLOGHODO, J. C., UGBAJE, D. O., YEYE, O., & KESWET , M. . A. (2025). IMPACT OF PRIVATIZED SECTORAL INVESTMENT ON ECONOMIC GROWTH IN NIGERIA. TSU-International Journal of Accounting and Finance, 4(2), 129–141. Retrieved from https://tsuijafc.k-publisher.com/index.php/tsuijaf/article/view/164

Issue

Vol. 4 No. 2 (2025): June 2025

Section

Articles