The need for economic theory to address the problem of unsustainable consumption patterns in a developing economy, Nigeria cannot be overemphasized. The literature suggests that present consumption patterns which use up economic resources beyond the capacity of the environment to replenish may make development unsustainable. This study analyzed consumption behavior vis-à-vis the factors that weakly or strongly influence consumption decisions. The main objective of the study is to determine the consumption patterns among and within individual households in Agyaragu community of Nasarawa and by inference, Nigeria. The study also investigated the extent to which consumption behavior of households supported the predictions of conventional models of consumption. A sample of 500 households was randomly drawn from the community population of 22,750, with a response rate of 97%. The main model employed alongside others, is the Autoregressive Distributed Lagged (ADL) model. The results and findings revealed that individuals do not simply behave according to the baseline models of consumption. Consumption patterns favoured non-durable consumption and necessities. The study recommended the model used in this study as a model of consumption that should incorporate the additional factors revealed by this study. The study further recommended an economic policy and programme that will switch consumption away from nondurables to durables. This would enhance wealth creation, savings, investment and economic growth and development.
This study investigates the nexus between infrastructural development and Nigerian economic growth using data from 1981 to 2014. The data was tested for stationarity followed by co-integration, and Vector Error Correction Model (VECM) was employed for the analysis. From the results, there is long run relationship between infrastructure development and Nigerian economic growth. VECM have the expected negative sign, and is between the accepted region of less than unity. It also shows a low speed adjustment towards equilibrium. Hence specifically, infrastructural development on road and communication show a positive relationship with the Nigerian economic growth for the period under review, while private investment, degree of openness and education produced negative relationship with economic growth. It was therefore recommended that, the government should beef up their commitment on improving infrastructure, develop the manufacturing sector to properly harness the advantages of openness of the economy, improve and monitor budgetary allocation to education to increase human capital development that is capable of utilizing available infrastructure and resources for the attainment of economic growth, and encourage private sector with series of incentives to increase their participation in investment activities which will lead to economic growth.
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