ANALYSIS OF REAL SECTOR CONTRIBUTIONS TO ECONOMIC GROWTH IN NIGERIA
ANALYSIS OF REAL SECTOR CONTRIBUTIONS TO ECONOMIC GROWTH IN NIGERIA
Author(s): Rasheed Abolaji FolarinSubject(s): National Economy
Published by: Universitatea SPIRU HARET - Faculty of Accounting and Financial Management
Keywords: Economic growth; Gross domestic product; Pareto analysis; Policy; Real Sector;
Summary/Abstract: The real sector which involves production of goods and services used in the economy has been the engine of economic transformation over the years. Since independence in 1960 Nigeria overall economic performance has not been encouraging. Despite the availability of large amount of foreign exchange mainly from its crude oil and huge expenditure, economic growth has been insignificant and the incidence of poverty has increased. This study identified few sectors that contributed most to economic growth in Nigeria. Ten years data (2009-2018) on contributions of real sector to Gross Domestic Product (GDP) were used for the study and Pareto analysis was used to analyse the data. The study reveal that to achieve 80% economic growth in Nigeria government should give preference to service, agriculture and industry sectors in formulation of policies for economic growth.
Journal: Journal of Academic Research in Economics (JARE)
- Issue Year: 12/2020
- Issue No: 2
- Page Range: 347-357
- Page Count: 347
- Language: English
- Content File-PDF