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Defense Spending and Income Growth in Nigeria Cover

Abstract

This study considers the effect of defense spending on income growth in Nigeria. The results show that defense spending adversely affects income growth in the short run and the long run. Education spending, health spending, transport and communication service spending, internal security spending and electric power consumption have short-run and long-run growth impacts on income in Nigeria. Also, the armed forces personnel proportion of the labour force impacted positively on income. It was concluded that resource distribution should favour provisions of socio-economic and infrastructural facilities for defense spending. Therefore, the government should allocate its resources to provide socio-economic and infrastructural facilities for sustainable income growth in Nigeria.

DOI: https://doi.org/10.2478/zireb-2024-0005 | Journal eISSN: 1849-1162 | Journal ISSN: 1331-5609
Language: English
Page range: 97 - 114
Published on: Jun 3, 2024
Published by: University of Zagreb, Faculty of Economics & Business
In partnership with: Paradigm Publishing Services
Publication frequency: 2 issues per year

© 2024 Saheed O. Olayiwola, Ayodeji O. Oloruntuyi, published by University of Zagreb, Faculty of Economics & Business
This work is licensed under the Creative Commons Attribution-NonCommercial-NoDerivatives 4.0 License.