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Service Sector Performance, Industry and Growth in Nigeria
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Author(s): Oluseun A. Ishola (Centre for Management Development, Ibadan, Nigeria)and Modinat O. Olusoji (Centre for Management Developement, Lagos, Nigeria)
Copyright: 2020
Volume: 11
Issue: 1
Pages: 15
Source title:
International Journal of Service Science, Management, Engineering, and Technology (IJSSMET)
Editor(s)-in-Chief: Ahmad Taher Azar (College of Computer & Information Sciences, Prince Sultan University, Riyadh, Saudi Arabia & Faculty of Computers and Artificial Intelligence, Benha University, Benha, Egypt)and Ghazy Assassa (Benha University, Egypt)
DOI: 10.4018/IJSSMET.2020010103
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Abstract
This article extends previous empirical studies on service-industrial sector interactions and their impact on growth. It provides evidence from quarterly time series data using OLS, from 2010 to 2016 to account for new subsectors introduced from 2010 following the rebasing of the Nigerian economy. The article employs a disaggregated model to capture the individual productivities of subsectors. Series stationarity was determined with the ADF and PP test, thereafter Johansen technique was applied. The results indicate that while both services and the industrial sector contributed significantly to the economic growth (GDP) of Nigeria, some subsectors i.e. public administration, professional, scientific and technical services, transport (road, rail, pipeline, air, water), utilities (electricity, gas, and water supply, sewage, waste management) were found to be deficient. Finally, this article draws some policy implications to further strengthen the service and industrial sectors so as to maximise the potentials therein through the prescription of sector-specific policies.
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