Department of Economics, Tai Solarin University of Education, Ijagun, Ijebu-Ode, Nigeria
Ogundipe, M.A., Department of Economics, Tai Solarin University of Education, Ijagun, Ijebu-Ode, Nigeria; Aworinde, O.B., Department of Economics, Tai Solarin University of Education, Ijagun, Ijebu-Ode, Nigeria
The aim of this study is to investigate the impact of public investment on economic growth in Nigeria. Regression analysis and unit root test were used to examine the stationarity of the variables considered in the study. The study used the annual data covering the period between 1970-2008, It was discovered that government spending in agriculture, education, defence and internal security services as well structural adjustment program were statistically significant while government spending in health, transport and telecommunication sectors are statistically insignificant. This implies that government spending in agriculture, education, defence, and internal security services as well structural adjustment program are significant factors influencing the level of economic growth in Nigeria. The study strongly recommended that the government should increase her spending to productive sectors of the economy such as agriculture, education transport and communication, health and reduce her spending in defence.
