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Pros And Cons Of Government Development In Nigeria

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COMPOSITION OF GOVERNMENT EXPENDITURE Composition of public government expenditure has been attracting the attention of economists in recent times due to its effects on the level of growth. Government expenditure is expected to be means of reducing the negative impacts of market failure on the economy. However, allocations of public expenditure with lack of consideration for the urgent needs of the country may engender greater distortion in the economy which may be detrimental to growth. Since 1960, it has become a yearly ritual for the government to allocate public expenditure into various sectors of the economy. What are not clear yet are the impacts of the composition of public expenditure on the level of growth. If government allocations to the various sectors are determined by political consideration rather than economic reasons market distortion will be aggravated with increase in government expenditure. Where the problem of rent seeking is rampant, public expending compositions will be disproportionally shifted based on rent seeking for personal benefits rather than achieving rapid economic growth. Are the compositions of public expenditure growth enhancing or growth retarding in Nigeria? Is there any need for the composition of government expenditure to be adjusted to accelerate rapid economic growth? Earlier research in this area in Nigeria has been to investigate the impacts government investments on variables like manufacturing performance and employments (

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