ABSTRACT
This study examines the trend analysis of industrial sector and economic growth in Nigeria. It
also examined the impact of manufacturing sector on economic growth, the effect of solid mineral
sector on economic growth and the impact of energy sector on economic growth in Nigeria. This study spans a period of 1970 to 2020 while using time series data on relevant data in
respect to the research objectives. Some of which are electricity, manufacturing sector output, labor
force, real interest rate, inflation, foreign direct investment, trade openness etc. These data were
collated across various sources, some of which include World Development Indicators (WDI), Central
Bank of Nigeria statistical bulletin etc data collected were analyzed using tables. The analysis performed were unit root test, using both Augmented Dickey-Fuller (ADF) test
and the Phillip and Perron (PP) test, the lag order of the ARDL models using VAR lag order selection
criteria. Also, long run and short run relationship across various variables were determined using the
bounds test approach for co integration and the Error Correction form. The results obtained from this research shows that the relationship between the energy sector
and economic growth is positive in the long-run and negative in the short-run and statistically
significant in the short run and long run. Also, Manufacturing Sector Output was found to have a
positive and significant relationship with economic growth in the short run. The Solid Mineral Sector
was also seen to have a positive and insignificant effect on economic growth. This study concludes
that these variables are significant components to the performance of the industrial sector
development plan in Nigeria
TextPublisher: Ibafo Economics 2022Edition: A. O YoungDescription: Viii; 71pgsSubject(s): Social Science -- EconomicsSummary: ABSTRACT
This study examines the trend analysis of industrial sector and economic growth in Nigeria. It
also examined the impact of manufacturing sector on economic growth, the effect of solid mineral
sector on economic growth and the impact of energy sector on economic growth in Nigeria. This study spans a period of 1970 to 2020 while using time series data on relevant data in
respect to the research objectives. Some of which are electricity, manufacturing sector output, labor
force, real interest rate, inflation, foreign direct investment, trade openness etc. These data were
collated across various sources, some of which include World Development Indicators (WDI), Central
Bank of Nigeria statistical bulletin etc data collected were analyzed using tables. The analysis performed were unit root test, using both Augmented Dickey-Fuller (ADF) test
and the Phillip and Perron (PP) test, the lag order of the ARDL models using VAR lag order selection
criteria. Also, long run and short run relationship across various variables were determined using the
bounds test approach for co integration and the Error Correction form. The results obtained from this research shows that the relationship between the energy sector
and economic growth is positive in the long-run and negative in the short-run and statistically
significant in the short run and long run. Also, Manufacturing Sector Output was found to have a
positive and significant relationship with economic growth in the short run. The Solid Mineral Sector
was also seen to have a positive and insignificant effect on economic growth. This study concludes
that these variables are significant components to the performance of the industrial sector
development plan in Nigeria
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