An Assessment Of The Impact Of Manufacturing Sector On Economic Growth In Nigeria

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An Assessment Of The Impact Of Manufacturing Sector On Economic Growth In Nigeria

ABSTRACT

This research work examines econometrically the impact of manufacturing sector on economic growth in Nigeria. It assesses the effect of manufacturing output (mangdp), investment (inv), government expenditure (govexp) and money supply (m2) on log of real gross domestic product (lrgdp). Appropriate multiple regression model is specified with parameters, which are estimated using the ordinary least square (OLS) technique. Test of hypothesis is carried out and the result shows a positive and significant relationship between manufacturing output and economic growth in Nigeria within the period under investigation. Among other recommendations the study opines that manufacturing outfits should be encouraged by the government through policy packages such as tax holiday and other helpful concessions in order to enhance manufacturing output in the country

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