GOVERNMENT INVESTMENT AND ECONOMIC GROWTH: A COMPARATIVE STUDY OF NIGERIA AND GHANA

This study assessed the effect of government investment on economic growth: a comparative study of Nigeria and Ghana. Government investment on infrastructure and security was employed as the independent variables while gross domestic product was used to measure economic growth spanning from 2000 to 2023. Data were generated from statistical bulletin and World Bank annual reports. Data were analyzed and the hypotheses were tested with regression analysis via e-view 9.0. The study revealed that the regression result of model 1 showed that government infrastructural investment had a positive and insignificant on gross domestic product in Nigeria but showed a positive and significant effect in Ghana. Also, the study provided evidence that the government investment on securities had a positive and insignificant effect on gross domestic product for Nigeria while the outcome showed a negative and for Ghana. However, the overall multiple results revealed that both Nigeria and Ghana showed a Prob(F-statistic) of 0.009 and 0.000 for Nigeria and Ghana respectively. Based on the findings, this study therefore recommended among others that hough it’s pertinent to all African government to invest in social amenities, the Nigerian government needs to allocate more fund infrastructural development to boost its economic growth