Published October 11, 2022 | Version v1
Journal article Open

PUBLIC EXPENDITURE AND ECONOMIC PERFORMANCE IN AKWA IBOM STATE, NIGERIA (2000-2019)

Authors/Creators

  • 1. Department of Economics, University of Nigeria, Nsukka, Nigeria
  • 2. Department of Business Education Faculty of Vocational Education & Information Science

Description

The study aimed at determining the relationship between public expenditure and economic performance in Akwa Ibom State, Nigeria (2000-2019). The study was guided by three objectives, three research questions and three research hypotheses. The study employed the exploratory and ex-post facto designs. The exploratory design guided the collection of data from text books, journals, articles, and other relevant materials for hypotheses formulation, while the ex-post facto design was used because the events under study had already taken place and cannot be controlled. The population of the study consisted of public expenditure in the selected
ministries of Akwa Ibom State Government from 2000- 2019. The sample of the study consisted of public expenditure from 2000- 2019. Purposive sampling technique was used. The instrument used was the audited budget from the Office of the Auditor General of Akwa Ibom State from 2000-2019. The instrument was face validated by experts in the Accounting and Measurement and Evaluation, Faculty of Education, University of Uyo Nigeria. The reliability of the instrument was determined using Split half reliability test to analysed the public expenditure from 2005- 2011. The split half reliability is a statistical method used to measure the internal consistency of the scores of a test. The reliability estimates were as follows: Ministry of Agriculture and Food Sufficiency = .905, Ministry of Education = .888 and Ministry of Health = .991. The data was time series data collected using the desk survey approach from approved recurrent and capital estimates of Akwa Ibom State and Report of the Auditor-General on the Accounts of Akwa Ibom State of Nigeria from 2000 to 2019. Simple linear regression was used for data analysis for the research questions and for testing the null hypotheses at .05 level of significance. The findings revealed that there was significant relationship between public expenditure on education; health; and agriculture; works and economic performance of Akwa Ibom State. Based on the findings it was recommended amongst others that government of Akwa Ibom State should increase the budget of educational sector to 30% of the total budget and ensure full implementation to foster research and development.

Files

SSMIJ Page 21-37.pdf

Files (567.9 kB)

Name Size
md5:77731f3c424859db5783e02aca2debb3
567.9 kB Preview Download

Additional details

References

  • Agbatogun, K. K and Taiwo, A.S (2010). Determinants of Health Expenditure in Nigeria. Journal of Research in National Development, 8(2), 1-9.
  • Akpan, N. I. (2005). Government Expenditure and Economic Growth in Nigeria: A Disaggregated Approach. CBN Economic and Financial Review, 6(2), 24- 33.
  • Al-Yousif, Y. (2000). Does Government Expenditure inhibit or promote Economic Growth? Some Empirical Evidence from Saudi-Arabia. India Economic Journal, 2, 26-35.
  • Babatude, M. A. (2012). An analysis of the Growth–Health Relationship in Nigeria. A paper presented at the center for the study of Africa economic d e v e l o p m e n t , D a k a r , S e n e g a l . A v a i l a b l e a t http://www.google.com.ng/url?q=https://editorialexpress.com/cgiin/ conference/download.cgi%3Fdb_name%3DCSAE2012%26paper_id%3D209 &sa=U&ei=uFD2UdfYFofPtQbn9IDoCg&ved=0CBwQFjAA&usg=AFQjCNG H1ZIP7Y56w5odJNCio1NvekLJ7A
  • Central Bank of Nigeria (2003). Annual Report and Statement of Account, Abuja, Nigeria.
  • Imoughele, G and Ismaila, B. (2013). Impact of public expenditure on the growth of Nigerian economy. European Scientific Journal, 10 (28), 219-229.
  • Izuchukwu, N. T. (2011). Impact of government sectorial expenditure on the economic growth of Nigeria. International Journal Economic Research, 3(6), 82–92.
  • Lawanson, D. I. (2009). Human capital investment and economic development in Nigeria. The role of education and health, Oxford Business and Economic conference programme.
  • Nurudeen, M. and Usman, Q. (2010). Wagner's law in Pakistan: Another look. Journal of Economic and International Finance, 2(1), 12-19.
  • Odior (2011). Public Sector Finance. Bobpeco Publishers, Benin City.
  • Oriakhi and Ameh (2014). Economic growth and government spending in Saudi Arabia: An empirical investigation. International Monetary Fund, IMF Working Paper No: WP/14/3; 2014.
  • Todaro, M. P., and Smith, S. C. (2009). Economic Development. Prentice Hall.
  • Udoka, C. O, Anyingang, R. A. (2014). The effect of public expenditure on the growth and development of Nigerian economy (1980-2012). International Review of Management and Business Research, 4(3), 823-833.
  • Yogish, S. N. (2006). Education and economic development. Indian Journal of Social Development, 6 (2), 255-270.