EFFECT OF SUSTAINABLE INFRASTRUCTURAL DEVELOPMENT ON ECONOMIC DEVELOPMENT OF TELECOMMUNICATION SECTOR IN NIGERIA

EFFECT OF SUSTAINABLE INFRASTRUCTURAL DEVELOPMENT ON ECONOMIC DEVELOPMENT OF TELECOMMUNICATION SECTOR IN NIGERIA

ABSTRACT

In this research EFFECT OF SUSTAINABLE INFRASTRUCTURAL DEVELOPMENT ON ECONOMIC DEVELOPMENT OF TELECOMMUNICATION SECTOR IN NIGERIA work on the effect of sustainable infrastructural development on economic development of Nigeria. The researcher examined the effect of sustainable infrastructure on the gross domestic product (GDP) of Nigeria. The impact of infrastructural development on the Gross Fixed Capital Formation (GFCF) of Nigeria. Explore the impact that infrastructural development has on Nigeria’s economic growth. Data for the study was sourced through CBN Annual report and journal articles related to the subjects matter. The data collected was analyzed using SPSS. The results of the study shows that The results as presented in the coeficiente revealed that calculated t-statistics (t = -2.723) for parameter GDP is greater than tabulated t-statistics at 0.05 level of significance. The regression equation also revealed that GDP accounted for -0.881 unit for every increase in infrastructure expenses. The coefficient of determinant (R²) 0.921 indicating that 92% of variation in GDP increase is caused by variation infrastructure expenses. The relationship between GDP and infrastructure expenses is high, positive and statistically significant at 0.05 level (r=0.960, p<0.05). The overall regression model is statistically significant in terms of its overall goodness of fit (f = 12.22, p < 0.05). As a result of this the study accepts the alternative hypothesis meaning that Sustainable infrastructure affects the gross domestic product (GDP) of Nigeria. It was also observed that infrastructural development has great impact on the Gross Fixed Capital Formation (GFCF) of Nigeria. Based on the findings the researcher recommends that to attain significant accelerated development over the next 10 -15 years, Nigeria will have to expand its infrastructure development funding in tangible capacities by 24% of GDP over 10 years or 18% of GDP over 15 years to catch-up with most Asian countries. This of course is based on the assumptions that Asian countries will maintain a modest growth rate of 6%/annum with spending on infrastructure remaining in the average 6% range.

EFFECT OF SUSTAINABLE INFRASTRUCTURAL DEVELOPMENT ON ECONOMIC DEVELOPMENT OF TELECOMMUNICATION SECTOR IN NIGERIA