Live Covid-19
United States 100,906,111
Cases: 100,906,111
Deaths: 1,106,990
Recovered: 98,320,554
Active: 1,478,567
India 44,674,874
Cases: 44,674,874
Deaths: 530,633
Recovered: 44,138,805
Active: 5,436
France 38,078,565
Cases: 38,078,565
Deaths: 159,245
Recovered: 37,022,916
Active: 896,404
Germany 36,557,861
Cases: 36,557,861
Deaths: 158,198
Recovered: 35,913,000
Active: 486,663
Brazil 35,436,031
Cases: 35,436,031
Deaths: 690,298
Recovered: 34,262,104
Active: 483,629
South Korea 27,408,854
Cases: 27,408,854
Deaths: 30,793
Recovered: 26,431,550
Active: 946,511
Japan 25,268,073
Cases: 25,268,073
Deaths: 50,461
Recovered: 20,766,771
Active: 4,450,841
Italy 24,488,080
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Deaths: 181,733
Recovered: 23,799,178
Active: 507,169
United Kingdom 24,024,746
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Deaths: 197,253
Recovered: 23,758,420
Active: 69,073
Russia 21,623,268
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Deaths: 392,283
Recovered: 21,023,627
Active: 207,358
Turkey 17,005,537
Cases: 17,005,537
Deaths: 101,400
Recovered:
Active: 16,904,137
Spain 13,614,807
Cases: 13,614,807
Deaths: 116,108
Recovered: 13,403,322
Active: 95,377
Vietnam 11,518,149
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Deaths: 43,177
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Active: 865,984
Australia 10,759,272
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Deaths: 16,264
Recovered: 10,546,102
Active: 196,906
Argentina 9,739,856
Cases: 9,739,856
Deaths: 130,034
Recovered: 9,591,684
Active: 18,138
Netherlands 8,544,770
Cases: 8,544,770
Deaths: 22,920
Recovered: 8,499,904
Active: 21,946
Taiwan 8,379,467
Cases: 8,379,467
Deaths: 14,500
Recovered: 8,054,926
Active: 310,041
Iran 7,559,924
Cases: 7,559,924
Deaths: 144,645
Recovered: 7,335,330
Active: 79,949
Mexico 7,132,792
Cases: 7,132,792
Deaths: 330,525
Recovered: 6,400,759
Active: 401,508
Indonesia 6,682,437
Cases: 6,682,437
Deaths: 160,026
Recovered: 6,474,271
Active: 48,140
Poland 6,354,511
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Deaths: 118,340
Recovered: 5,335,940
Active: 900,231
Colombia 6,318,021
Cases: 6,318,021
Deaths: 141,911
Recovered: 6,142,640
Active: 33,470
Austria 5,583,979
Cases: 5,583,979
Deaths: 21,230
Recovered: 5,515,749
Active: 47,000
Portugal 5,546,290
Cases: 5,546,290
Deaths: 25,517
Recovered: 5,501,942
Active: 18,831
Greece 5,404,690
Cases: 5,404,690
Deaths: 34,309
Recovered: 5,345,133
Active: 25,248
Ukraine 5,341,284
Cases: 5,341,284
Deaths: 110,586
Recovered: 5,217,903
Active: 12,795
Malaysia 5,001,908
Cases: 5,001,908
Deaths: 36,716
Recovered: 4,943,392
Active: 21,800
Chile 4,939,304
Cases: 4,939,304
Deaths: 62,587
Recovered: 4,867,554
Active: 9,163
North Korea 4,772,813
Cases: 4,772,813
Deaths: 74
Recovered: 4,772,739
Active: 0
Israel 4,729,614
Cases: 4,729,614
Deaths: 11,882
Recovered: 4,704,016
Active: 13,716

Effect of Macroeconomic Determinants on Private Sector Investments in Nigeria, 1986-2020

Effect of Macroeconomic Determinants on Private Sector Investments in Nigeria, 1986-2020

ABSTRACT

The main objective of the study is to appraise the effect of macroeconomic determinants on Private Sector Investments in Nigeria from.  Specifically, the study sought to investigate the effect of Interest Rate on Private Sector Investment in Nigeria, ascertain the impact of Money supply (MS) on Private sector investments in Nigeria, determine the effect of Exchange Rate on Private sector Investments in Nigeria, and ascertain the relationship between inflation rate and Private Sector Investments in Nigeria. The data was obtained from Central Bank of Nigeria (CBN) Statistical Bulletin and Debt Management Office (DMO) in Nigeria covering the period of 1986 through 2020. The work employed ex-post facto design method. In line with empirical principles, Ordinary Least Square (OLS) econometric technique was adopted to examine the major effects of macroeconomic determinants on Private Sector Investments in Nigeria. The dependent variable is Private Sector Investment while proxies for macroeconomic determinants variables are Interest Rate, Money Supply, Exchange Rate and Inflation rate. The results show among others that Interest Rate has a positive and non-significant effect on private sector investment in Nigeria over the period 1986-2020. The study recommends among others   Since Interest Rate has significant influence on private investment in Nigeria, commercial banks should be advised by the regulatory body to inculcate the habit of boosting private savings and the deposit rate so as to increase the level of lending to the private sector. For sufficient economic growth and sustainability of Nigeria’s economy, monetary authorities and government should lower the lending rate, so that local investors especially small and scale entrepreneurs can have easy access to loan facilities from banks.

Keywords: Money Supply; Debt Management Office; Macroeconomic Determinants; Private sector Investment

Authorship
1Nwankwo S. N. P and 2Allison, P.U.

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