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Abstract: The economic well-being of a country’s citizen is a function of the economic performance of that country. The Nigeria’s economic growth has remained sluggish in recent years, perhaps due to lack of adequate infrastructural facilities such as technology, education, transportation, and energy. Meanwhile, there has been a paradigm shift from public financing of critical infrastructure from government funding to private sector financing of infrastructure facilities. The aim of this study therefore was to examine the effects of private technology infrastructure investment on the real Gross Domestic Product in Nigeria. The study adopted ex post facto research design and Ordinary Least Squares to analyze secondary data obtained from the Central Bank of Nigeria’s Statistical Bulletin and the World Development Indicators during the period 1999 to 2022. Granger causality test was also deployed to achieve the objective of the study and the study used E-views to analyze the data. The results based on multiple regression analysis revealed that private sector investments in technology infrastructures exerted positive and significant effects on GDP at 5% level of significance (β=0.5193; t=8.7279, p< 0.05); while the result of the granger causality test revealed that private sector technology investment granger cause GDP growth, but GDP growth did not granger cause technology investment (F= 4.16423; p= 0. 0350). The study therefore recommended that policies to encourage more private sector participation in technology related infrastructure should be put in place. |
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