DYNAMICS OF GOVERNMENT EXPENDITURE ON ECONOMIC SERVICES AND ECONOMIC GROWTH IN NIGERIA

The main objective of this research work is to evaluate the dynamics of government expenditure on economic services and economic growth in Nigeria between the period of 1996 and 2023. This has become important because despite the huge funds allocated for economic services in Nigeria, the impact of such had not been significantly felt on the level of economic growth. The regression analysis with special use of the Error Correction Model (ECM) were used to analyze the data. The findings revealed that a long run equilibrium relationship existed among the variables. The results also showed that the expenditure on economic services had a significant and positive impact on the level of economic growth in Nigeria. The expenditure on education also had positive and significant impact on the level of economic growth. On the basis of the above findings, more budgetary allocations to economic services and the educational sector, under proper supervision is therefore recommended amongst others.