ABSTRACT

The study examined the impact of infrastructure financing on sustainable development in Nigeria for a period of thirty-nine (39) years, from 1981 to 2019. The Ex-post facto research design was adopted. Secondary data was collected from the National Bureau of Statistics (NBS) for various years. The study used Real Gross Domestic Product (RGDP) as a proxy for sustainable development. Error Correction Model  multiple regression techniques and E-view statistical software 8 were used to analyze the data. The data were first subjected to pre estimation test such as unit root test and cointegration test. The unit root result showed that the variables were stationary at first difference while the Cointegration result showed that the variables have no long run relationship with RGDP. Because of the result of the Cointegration test, error correction model regression was used to test the hypotheses. The error correction model regression data results showed that telecommunication infrastructure and utility infrastructure (proxied by Infrastructure financing) have insignificant impact on sustainable development in Nigeria. Again, environmental infrastructure and transportation infrastructure (proxied by Infrastructure financing) has significant impact on sustainable development in Nigeria. Based on these findings, the study concluded that there is a positive relationship between the components of infrastructure financing and sustainable development in Nigeria. Hence, the study recommended that: Government should sustain the level of investment on transportation infrastructure, and environmental infrastructure because of their contribution to sustainable development in Nigeria. It further recommends that Government should review her investments on utility infrastructure and ensure they are well utilized for improved sustainable development in Nigeria.

 

 

 

 TABLE OF CONTENTS

2.4       Summary and Gap in Literature.                                                                                65

CHAPTER 3:  METHODOLOGY

3.1        Research Design                                                                                                        66

3.2       Area of the Study                                                                                                      66

3.3       Sources and Method of Data Collection                                                                    67

3.4       Model Specification                                                                                                    67

3.5       Description of Model Variables                                                                                  68

3.5.1    Dependent variable                                                                                                    68

3.5.2    The independent variables                                                                                          68

3.6       Method of Data Analysis                                                                                           69

3.7       Decision Rule                                                                                                              71

CHAPTER 4: DATA PRESENTATION, ANALYSIS, AND DISCUSSION OF FINDINGS

4.1 Data Presentation                                                                                                              72

4.1.1 Trend analysis of environmental financing in nigeria                                                    76

4.1.2 Trend analysis of telecommunication financing in nigeria                                             77

4.1.3 Trend analysis of transportation financing in nigeria                                                     77

4.1.4 Trend analysis of utility financing in nigeria                                                                  78

4.1.5 Trend analysis of real gross domestic product (RGDP) of nigeria                                78

4.2 Pre-Estimation Tests                                                                                                         82

4.2.1 Stationarity/ unit root tests                                                                                             82

4.2.2 Cointegration test results                                                                                               83

4.3 Test Of Hypotheses                                                                                                          86

4.3.1 Decision rule for hypotheses’ tests                                                                                87

4.4 Discussion of Findings                                                                                                     92

4.4.1 Impact of transportation infrastructure financing on sustainable development             92

4.4.2 Effect of environmental infrastructure financing on sustainable development             93

4.4.3 Impact of utility infrastructure financing on sustainable development                         93

4.4.4 Effect of telecommunication infrastructure financing on sustainable development      94

CHAPTER 5:            SUMMARY, CONCLUSION, AND RECOMMENDATIONS

5.1 Summary of Findings                                                                                                        95

5.2  Conclusion                                                                                                                        96

5.3 Recommendations                                                                                                             96

5.4 Contribution to Knowledge                                                                                              97

5.5 Suggestion for Further Studies                                                                                         98

 

   References                                                                                                              

 

   Appendices