Management Efficiency And Economic Growth In Nigeria: An Empirical Analysis Of Listed Firms In Nigeria 2003 - 2023
Dr Emmanuel Chika Obizue Department Of Banking And Finance, Imo State University, Owerri, Imo State +2348068099918 Dremmanuelobizue@gmail.com And Benjamin Oludotun Lisoyi Wesley University, Ondo 08026775700 Oludotun.lisoyi@wesleyuni.edu.ng And Og
Volume 5, Issue 1, March 2025
This study examined the relationship management efficiency and economic growth in Nigeria. Secondary data were sourced from the financial statement of the ten listed firms in the Nigerian exchange group. Real gross domestic product (RGDP) was used as proxy for economic growth which is the dependent variable while return on Investment (ROI) and Rate of Turnover (RTOV) were used as the indices for management efficiency as the independent variables. Panel data ordinary least square was used to estimate the relationship between the variables and the study found that the two explanatory variables exerted positive and significant impact on the dependent variable. Based on the findings in this study it was concluded that efficiency and effectiveness in corporate management are profound and very crucial factors in driving the Nigerian economic growth and improvements in management practices can lead to increased productivity and economic growth. The study recommends that both the government and organizational management should invest in human capital training and development programs to improve quality, skills, entrepreneurship and innovation/creativity to enhance their efficiency towards growing both the organizations and the Nigerian economy and that the government should try to improve the institutional framework thereby strengthening regulatory frameworks so as to reduce management corruption and inefficiencies to enhance business environments which supports management efficiency and economic growth.