Research Objective: This study evaluated the impact of domestic public investment (DPI) in education on economic growth in Nigeria from 1999 to 2022, with the goal of determining if increased government spending in education positively influences the nation's economic productivity.
Methodology: The research utilized DPI data in education from the Central Bank of Nigeria’s statistical bulletin for the period 1999-2022. Linear regression and the ordinary least squares (OLS) technique, along with Granger causality analysis, were employed to assess the relationship between DPI in education and economic growth.
Findings: The study revealed that DPI in education did not have a positive or significant effect on economic growth in Nigeria during the 23-year study period. Additionally, no causal relationship was found between DPI and economic growth.
Conclusion: The findings suggest that the current government spending in education is insufficient to drive economic growth.
Recommendation: that the Nigerian government retool its expenditure policies in education to better support long-term economic development.
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