EFFECT OF GOVERNMENT INVESTMENT REVENUE ON NIGERIA'S ECONOMIC GROWTH

This study investigates the effect of government investment revenue on Nigeria’s economic growth, focusing specifically on dividend income from government enterprises (DIGE) and returns on public infrastructure investments (RPII) as key revenue sources. Covering the period 2001–2025, the research adopts an ex-post facto design, employing a quantitative approach based on secondary time-series data obtained from official sources such as the Central Bank of Nigeria Statistical Bulletin, Nigerian Bureau of Statistics, and Federal Government Annual Reports. Descriptive statistics were employed to summarize the central tendencies and variability of the variables, providing an initial understanding of the data distribution and characteristics. Subsequently, the ADF unit root test was conducted to assess stationarity, ensuring that the variables were suitable for regression modeling. All variables are stationary at the first difference, thereby reducing the risk of spurious regression. The study subsequently employed OLS regression to estimate the effects of DIGE and RPII on Real Gross Domestic Product (Real GDP). The regression results reveal that both dividend income from government enterprises and returns on public infrastructure investments have a statistically significant and positive impact on real GDP, indicating that investment-based government revenue contributes significantly to Nigeria’s economic growth. Based on these findings, the study recommends strengthening government enterprises’ dividend remittance frameworks and improving revenue-yielding infrastructure monetization and maintenance to sustain fiscal contributions and promote economic expansion. These recommendations aim to ensure that government investment revenue is translated into effective and sustainable growth outcomes