Analysis of priotising security budget on other sectors of the economy, implication on security and national development in Nigeria

Authors: Lawal F.K, Ittah J.B, Sanni P

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Misplacement of priority in the allocation of national resources is a great danger to the growth of any economy, which leads to poor standard of living among its citizens leading to people involving themselves on different types of job to meet the end needs. The continuation of this leads people involving themselves into arms proliferations and other crimes. This study focused on modelling the effect of inequality in the allocation of budget to various sectors of Nigeria economy with its effect on national growth. We obtained data from central bank of Nigeria on the allocation of budget to five key sectors of the economy from year 1992 to 2020. Multiple regression analysis was used with the result showing that there is inequality on the allocation of budget to these sectors with money allocated to security having the highest all the time and not significant to GDP growth.

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