Nigeria Vision 20:2020 Can Dream Become Reality? Evidence from National Accounts

Information
Title: Nigeria Vision 20:2020 Can Dream Become Reality? Evidence from National Accounts
Issue: Vol. 7, No 3, 2014
Published date: 20-11-2014 (print) / 20-11-2014 (online)
Journal: Journal of International Studies
ISSN: 2071-8330, eISSN: 2306-3483
Authors: Solomon Thomas
Marcin Brycz
Keywords: Nigeria, Vision 20:2020, SSVS, National Accounts
DOI: 10.14254/2071-8330.2014/7-3/15
DOAJ: https://doaj.org/article/5c80b2860ec94b75ae3577419616edc1
Language: English
Pages: 162-170 (9)
JEL classification: E61
Website: http://www.jois.eu/files/Vol_7_2_Thomas_Brycz.pdf
File https://www.jois.eu/files/Vol_7_2_Thomas_Brycz.pdf
Abstract

The Nigerian Government has used national perspective plans as an economic tool since independence. Unfortunately these plans are often irrelevant to the actual economic problems of the country. The latest economic plan is the ‘Vision 20:2020’ whose main goal is to bring Nigeria into top 20 biggest economies by the 2020. The Nigerian public as well as some Nigerian economists doubt whether government plan will succeed.The purpose of this study is to find the true economic-growth determinants of na- tional economy structure. We use so-called SSVS procedure to find to find candidate- variable of the true growth model. Next we estimate simple OLS model to find coef- ficient’s signs of the variables obtained from SSVS procedure. We found that Vision 20:2020 plots a good direction for Nigerian economy, but Nigerian authorities should be alert on reforming public administration and government provided service.