Impact of Selected Macroeconomic Variableson Economic Growth in Nigeria: 1990 -2020

Abstract

Due to the immense contribution of some selected macroeconomic variables to the economic growth and development in Nigeria, this research investigates the impact of selected macroeconomic variables on economic growth in Nigeria from 1990-2020. Auto-regressive distribution lags model (ARDL) based on the Unit root test was used to determine the effect of three major factors; interest rate (INTR), exchange rate (EXR) and inflation (INFR) on real gross domestic product (RGDP) which proxies’ economic growth The findings from the empirical point of view show a positive relationship of gross domestic product (GDP) with Interest rate while exchange rate inflation rate have a negative relationship with real Gross domestic Product (RGDP) also, interest rate, exchange rate and inflation are all significant at all levels of significance.