Impact Of The Manufacturing Sector Output On The Economic Growth In Nigeria: Mgbechi Peace C

ABSTRACT

The importance of our industrial and manufacturing sector in improving our economy can never be overemphasized especially when all attention is being channelled to the agricultural sector to save our GDP. The study focuses on ascertaining the effect of the manufacturing sector output on the economic growth of Nigeria, using time series data spanningfrom 1981- 2018 using the Vector Error Correction model estimates to check/or the short and long run impact of the explanatory variables MANO, INV and LOGMS in relation to the target variable RGDP. The study establishes that RGDP has a strong influence on itself in the short-run while the explanatory variables endogenously influences and predicts what will happen to RGDP in the long run, on the average, ceteris paribus. The study also establishes that MANO and MS are predictors of RGDP as their coefficients are positively signed and statistically significant at 5% level. Topic: Impact of the manufacturing sector output on the economic growth in Nigeria