Regression Analysis Of Economic Growth Indicators In Nigeria

ABSTRACT

This work established that Export of Goods and Services and private consumption contributed most, to the economic measure of standard of living (per capita GNP) in Nigeria for the periods 1963 — 1979 and 1980-1991. There was significant, decline in the contribution of Export of Goods and Services and Private consumption to the economic measure of standard of living (per capita GNP) within the period 1980-1991. In the course of this project, data on the per capita GNP, Export, Import, Balance of payment, Government consumption, private consumption$Gross capitaL formation was collected from International Monetary Fund statistical bulletin, for the period 1963 — 1991 The chi-square test for normality was carried out on the per capita GNP, which established that the per capita GNP's may notAbeen drawn from a normally distributed population. Bartlett's test for constant variance, established that the variance of the per capita GNP's may not be constant over the years. Runs-up-and-down test established that there may be trend or systematic variation in the per capita GNP's over the years. A chi-square test for the presence of multicollinearity shows the there may be significant multicollinearity is present in the model (3.1). Based on the findings, I recommend that all hands should be on deck to foster economic growth in Nigeria, in the years ahead.