International Journal of Social Science & Economic Research
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Title:
IMPACT OF INDUSTRIAL OUTPUT ON THE ECONOMY OF NIGERIA (1990-2014)

Authors:
AIYEGBUSI, OLADELE SOLA; BANKOLE, KAYODE DANIEL; DOMMA, SUNDAY OTU

Abstract:
Impact of industrial output on the economy of Nigeria is a continuous discussion to every economy especially developing economies which will give rise to economic growth and the impact of industrial output on the economy of Nigeria, between the period of twenty-five years covered from 1990-2014. Secondary data sourced from Central Bank of Nigeria, Federal Office of Statistics and other related institutions were regressed and analysed using E-view 7.00 version. Findings of the study show that the three independent variables namely; industrial output, total savings and inflation had R2 of 0.88544 adjusted to 0.84662 indicating that three variables have explained 85% of the variation in the independent variable, that is the GDP. As expected, industrial output and total savings had positive coefficients; while inflation displayed the expected negative sign. It was recommended among others that appropriate fiscal and monetary policies be put in place in order to attract prospective investors and as well provide enabling environment to the existing industries in Nigeria.

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