SELECTED MACRO-ECONOMIC VARIABLES AND ECONOMIC GROWTH IN NIGERIA (2000-2023)

This study examined the effect of selected macroeconomic variables on economic growth of Nigeria (2000 2023). The study employed ex post facto research design. Various pre and post estimation test was conducted. While multiple regression analysis with the aid of e-views 10.0 statistical software was used to test the hypotheses. The study found that money supply has positive (24.96774) and significant (0.0000) effect on RGDP of Nigeria, the study also found that exchange rate has negative (-3.885370) and significant (0.0009) effect on RGDP of Nigeria and the study found that unemployment rate has negative (-3.885370) and significant (0.0009) effect on RGDP of Nigeria. The study concluded that selected macroeconomic variable affect economic growth of Nigeria. Based on the findings and conclusion, the study therefore recommended that Central Bank of Nigeria (CBN) should continue to implement prudent monetary policies that would ensure an adequate and balanced money supply in the economy. Policymakers should work towards reducing the country’s reliance on imports and diversifying its foreign exchange earnings by promoting non-oil exports and investing in local industries. Policymakers should focus on creating sustainable employment opportunities that contribute to long-term economic growth.

0 17 May, 2025

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