International records / OpenAlex research

Government Expenditure On Security and Private Investment in Nigeria

This study examines the relationship between government expenditure on security and private investment in Nigeria over the period 2000-2024, incorporating inflation and interest rates as additional explanatory variables. Grounded in public goods theory, the study hypothesizes that effective security provision creates an enabling environment for private investment by protecting property rights, reducing transaction costs, and lowering risk premiums demanded by investors. The Dynamic Ordinary Least Squares (DOLS) methodology was employed to estimate long-run cointegrating relationships among the…