Impact of information and communication technology on the economic growth of Nigeria: 1991-2020

Authors

  • Solomon Igbayue Nile University of Nigeria, Department of Business Administration & Management

Keywords:

Information and Communication Technology, Economic Growth, Gross Domestic Product, Nigeria

Abstract

This paper examines the impact of Information and Communication Technology on the Economic Growth of Nigeria: 1991-2020. An ordinary least square regression is applied to annual aggregate data to determine the type of relationship that exist between the dependent and independent variables. The results of this study showed that Government expenditure on ICT (GEI) has a positive and significant impact on the GDP. Telecommunication sector (TLS) has a positive and significant impact on the GDP and Foreign investment on ICT (FDI) has a positive and significant impact on the GDP in Nigeria during the period under review. In conclusion, Nigeria's march towards becoming one of the top economies of the world in the year 2030, ICT provides practical ways of diversifying the economy away from its overdependence on the oil sector.

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Published

2022-01-01

How to Cite

Igbayue, S. . (2022). Impact of information and communication technology on the economic growth of Nigeria: 1991-2020. Journal of Global Economics and Business, 3(8), 83–111. Retrieved from https://journalsglobal.com/index.php/jgeb/article/view/42

Issue

Vol. 3 No. 8 (2022): January 2022

Section

Articles