National economics development: The effect of gross consumption and market capitalization the case of Nigeria

In most developing economy the national economic growth most time have been impacted by consumption rather than growth in the in real sector this have accounted for lack of real development deeply yearn for in the economy of most developing economy. The study made used of secondary data that covered the period from between 1980 to 2009, the study examined the case of Nigeria. The simple multiple regression analysis was adopted for the study.

It was found that Nigeria like other developing nation display an economy tilt toward consumption financed by revenue from crude oil sale it was also revealed that the market capitalization is a strong factor impacting the gross domestic product growth. This is in contrast to earlier study that show that only consumption impact on the national economic growth The study also revealed that the real sector do not contribute to the economic growth, the productive sector is poorly developed over the years.

It was recommended that the national economic policy should be directed toward the development of the real sector, growth in domestic investment through small and medium scale enterprise should be adopted, and foreign direct investment should also be encouraged.