THE IMPACT OF INFLATION ON ECONOMIC GROWTH IN NIGERIA: 1990-2024

OKENWA, CHIMDINDU FRANCIS (2026) THE IMPACT OF INFLATION ON ECONOMIC GROWTH IN NIGERIA: 1990-2024. Other thesis, Godfrey Okoye University, Enugu.

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Abstract

In this study, the impact of inflation on economic growth in Nigeria between 1990 and 2024 was examined using the annual time-series data. In the present study, energy inflation, core inflation, food inflation were used to explain the economic growth, exchange rate and interest rate were used as control variables and given special priority. Secondary data were obtained from the Central Bank of Nigeria (CBN), and the analysis was conducted by means of the Ordinary Least Squares (OLS) estimation technique. Results of the tests of the unit roots indicated that all variables are non-stationary at level and are stationary after first differencing; and the cointegration test discovered long term connections among the parameters. The results showed that energy inflation, core inflation, food inflation, and exchange rate in both models had direct and beneficial influence on the economic growth. Interest rate, however, did have a negative but statistically insignificant impact. The research, in the light of conclusions, suggested that the Government. should encourage the adoption of energy price stability by increasing the investment in energy infrastructure, energy production activities, or both, maintain prudent monetary policies to keep energy price inflation within a desirable range, and increasing the investment in agriculture production activities by strengthening domestic agricultural production itself or both through more credit access and by providing modern inputs for energy production in agriculture, energy storages, and infrastructures.

Item Type: Thesis (Other)
Subjects: H Social Sciences > H Social Sciences (General)
Divisions: Faculty of Management and Social Sciences
Depositing User: MICHAEL MADUBUKO
Date Deposited: 11 Aug 2026 08:55
Last Modified: 11 Aug 2026 08:55
URI: http://eprints.gouni.edu.ng/id/eprint/6242

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