Impact Of Industrial Output On The Economics Growth Of Nigeria:- Ufomba Justina O

ABSTRACT

 The study examined the impact ofindustrial output on economic growth in Nigeria. To achieve its objectives the study estimated an error correction model and multiple regression model with GDP as the dependent variable, while industrial output, maximum lending rate, inflation rate and gross fixed capital formation and FDI as independent variable. A Johansson cointegration test was also carried out to detect the presence or otherwise of a long run relationship. Annual time series data rangingfrom 1981- 2017 ofthe selected variables were employed in the analysis. The study established that in the period under review, industrial sector output has a positive impact on economic growth in Nigeria both in the long run and shortrun. The impact is also statistically significant indicating that industrial output is a major determinant ofEconomic growth in Nigeria. The study recommends that industrial and investment policy should be flexible on infant industries so as to encourage productivity and improve GDP.