Impact of Revenue Returned from Treasury Looting on Economic Growth of Nigeria:- Agugo, Stella W

ABSTRACT

The study examined the impact of revenue returned from looting by past leaders and politicians on economic growth of Nigeria.  The period of the study covered from 1999 to 2020. The specific objectives were to ascertain the impact of revenue returned  from looting by past leaders and politicians on the real gross domestic product in Nigeria  in President Olusegun Obasanjo’s administration, to determine the impact of revenue returned from looting by past leaders and politicians on the real gross domestic product in Nigeria in President Yaradua’s administration, to examine the impact of revenue returned from looting by past leaders and politicians on the real gross domestic product in Nigeria President Jonathan’s administration and to  examine the impact of revenue returned from looting by past leaders and politicians  on the  real gross domestic product in Nigeria in  President  Buhari’s administration from 2015 to 2020.  The study adopted expost facto research design.  The study data was sourced from Central Bank of Nigeria statistical Bulletine, 2020. The  study adopted various analytical technique such as unit root test,  Johansen co-integration test, Granger Causality and Ordinary Least Square Regression multiple regression. The findings of the study revealed that Revenue returned in Obasanjo’s administration (RROA) showed a negative impact on real gross domestic product (RGDP), Revenue returned in Yar’Adua’s administration (RRYA) showed a positive but insignificant relationship with real gross domestic product (RGDP). Revenue returned in Jonathan’s administration (RRJA) was also found to be positively related to real gross domestic product (RGDP) but statistically significance. Revenue returned in Buhari’s administration (RRBA) was found to have positive impact on real gross domestic product (RGDP).It was recommended that Government is transitional with continuing effect of policies and actions, there is a need to establish this factor in the conduct of politicians in Nigeria as government administrations cannot be carried on in isolation.