The Lethargic Government Public Expenditure Torpedoring Economic Development in Nigeria drom 1970-2014
The essence of this study was basically to examine objectively the lethargic nature of Public (government) expenditure leading to slow economic development in Nigeria. An ex-post facto research was carried out to ascertain the nature of Nigerian economic development, using judgmental sampling technique from the period 1970 – 2014. We utilized data on government capital expenditure, and recurrent expenditure sourced from CBN. Our data collection instrument for this study was the non-probabilistic sampling technique. We hypothesize and analyse our data using t-test, F-test and other statistical tools using the variables of Government Recurrent expenditure (GREX), and Government Capital Expenditure (GCEX) as indicators of economic development. Unit root test was used along with some other econometric statistics. Our findings revealed that Government Public expenditure has a weak or slow significant effect on economic development of Nigeria. We recommend that government should increase its Capital expenditure on infrastructure especially on construction of rural roads, electrification, and manufacturing industries, as this will accelerate the rate of growth in the productive sector of the economy as well as raise the standard of living in Nigeria. The provision of basic infrastructures is the bane of development in any nation which must be pursued vigorously so as to move the nation forward developmentally. Lethargic or low expenditure is directed at developmental strides that torpedoes economic development.
