IMPACT OF INFRASTRUCTURAL FINANCE ON THE ECONOMIC GROWTH AND DEVELOPMENT OF NIGERIA 2015-2020

Abstract

This research study investigates the impact of Infrastructural Finance on Economic Growth and Development of Nigeria from 2000-2020. The objectives of the study include the following; to evaluate infrastructural financing strategies and its effect on the growth and development of Nigeria’s economy, examine if there is a relationship between infrastructural financing and economic growth in Nigeria. The data for the study were extracted from CBN statistical bulletins. The multiple regression analysis was employed in this study. The results of the multiple regression analysis show that there is no significant contribution of Public Private Partnership (PPP) in achieving economic growth and development in Nigeria, and that government capital expenditure has a significant effect on economic growth and development in Nigeria. The result of the study also revealed that public-private initiative has not brought about any significant funding and maintenance of infrastructure in Nigeria. Based on the findings, we recommended that for PPP to work in the provision of infrastructure in Nigeria, there is need for enabling laws to be domesticated in each state of the federation for uniformity of administration and purpose, a robust transparent evaluation mechanism should be provided to ensure a smooth running of PPP programme. Furthermore, partisanship and nepotism must be avoided by our political leaders, especially when it comes to infrastructural financing.