Impact of Building and Construction Investment on the Nigerian Economy during the Military Era (1991-1998) and Civilian Era (1999-2006).

Abstract

This paper undertook an exploratory study of relationships between the type of political dispensation, military and civilian eras, representing 1991-1998 and 1999-2006 respectively and the impact of building and construction investment on the Nigerian economy using simple linear regression analysis, and Gross Domestic Product; Gross Fixed Capital Formation and Building and Construction Investment as the variables tested. The results showed that there were positive, linear and strong relationships between the variables in the two eras. This was as a result of the perfect correlation between the variables, as the dependent and independent variables increase yearly on the average, but there were stronger relationships between the variables during the civilian political dispensation than in the military dispensation. This formed a basis for concluding that investments in building and construction works area reliable tools for regulating national economy. The paper recommended a review of the constitution to give room for a more pro-active and all encompassing national policy framework on building and construction industry as a tool for reactivating the economy as well as influencing the direction of the economy. It was also recommended that a further research be carried out to examine the influence of building and construction investments on the Nigerian economy for a period of ten years in to the future (2009-2018).