AN ANALYSIS ON SAVINGS AND INVESTMENT, AS A STIMULUS TO ECONOMIC GROWTH IN NIGERIA. (1988-2018).

The purpose of this study is to analyse savings and investment as a stimulus to economic growth in Nigeria. This study employ the Ex- post facto research design to analyse savings and investment as a stimulus to economic growth in Nigeria. The regression method using secondary data was employed and the approach used was the Granger Causality test, Unit root test and cointegration. The research findings from the unit root test depicts that the variables are a mixture of stationary and non-stationary variables. The research findings from the cointegration test revealed that there is no longrun relationship between gross domestic savings, gross capita formation and economic growth. The findings from the Granger Causality shows that there is a unidirectional relationship between Investment and economic growth. Similarly, the study found out that there exist a unidirectional relationship between savings and investment. The paper also found out that there exist a positive relationship between economic growth and savings, while there is a negative relationship between economic growth and investment. This study is original / valuable because it help us to know that that savings is a stimulus to economic growth in Nigeria while investment is a detriment to economic growth in Nigeria. [ABSTRACT FROM AUTHOR]