Journal of Allied Research in Management and Entrepreneurship (JARME)

IMPACT OF PROJECT FAILURE ON ECONOMIC GROWTH IN NIGERIA, 1996-2022

Authors

  • Giwa, Emmanuel Adedapo Department of Architecture Enugu State University of Science and Technology (ESUT)
  • Emenike, Augusta Ifeoma (Ph.D.), Department of Architecture Enugu State University of Science and Technology (ESUT
  • Okafor, Ozoemena Christian (Ph.D.) Department of Marketing Enugu State University of Science and Technology (ESUT)
  • Ezea, Chinonyelum Nneoma Department of Architecture Enugu State University of Science and Technology (ESUT)

Abstract

This study aimed to measure the impact of project failure on the economic growth of Nigeria from 1996 to 2022. The specific objectives were to: Examine the impact of changes in the real exchange rate on economic growth, proxied by Gross Domestic Product, in Nigeria and to ascertain the impact of variations in government total savings on economic growth, proxied by Gross Domestic Product, in Nigeria. The study adopted an ex post facto research design, treating economic growth as the dependent variable, and the variables related to project failure (changes in the real exchange rate and variations in government total savings) as independent variables. Annual series data spanning from 1996 to 2022 were utilized. Hypotheses were tested using Ordinary Least Squares (OLS) and correlation matrix. The findings indicated that changes in the real exchange rate had a positive but statistically non-significant impact on the Gross Domestic Product (GDP) (coefficient = 0.051893, p-value of 0.4024 > 0.05), while variations in government total savings had a positive and statistically significant impact on the GDP (coefficient = 0.707051, p-value of 0.0000 < 0.05). Therefore, the study concluded that the Nigerian government needs a national policy, and if necessary, a legislative approach, to address the problem of project failure in the country. The impacts of project failure on individual citizens and the national economy are extremely negative and require mitigation. Recommendations were made that the government should genuinely and adequately monitor real exchange rates across different multinational economies to prevent capital leakage. Additionally, the Nigerian government should address and rectify government total savings discrepancies holistically to encourage individuals to save and obtain loans through government accounts

Keywords:

Peer-teaching, Discussion, Biology, Achievement

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Published

2023-11-02

DOI:

https://doi.org/10.5281/zenodo.10065695

Issue

Vol. 14 No. 10 (2023): October

Section

Articles

How to Cite

Giwa, E. A., Emenike, A. I. (Ph.D.), Okafor, O. C. (Ph.D.), & Ezea, C. N. (2023). IMPACT OF PROJECT FAILURE ON ECONOMIC GROWTH IN NIGERIA, 1996-2022. Journal of Allied Research in Management and Entrepreneurship (JARME), 14(10), 1–11. https://doi.org/10.5281/zenodo.10065695

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