Income Inequality and Economic Growth In Nigeria: Implication For Economic Development*
Income Inequality and Economic Growth In Nigeria: Implication For Economic Development*

Summary/Abstract: This study examined the relationship between income inequality and economic growth in Nigeria and its implication for economic development. The study covered the period 1981 to 2017 and employed the autoregressive distributed lag estimation technique. The results of the study showedthat economic growth had positive but insignificant impact on income inequality in Nigeria. Thus, the study recommends the need for the government to ensure equitable distribution of economic gains among the poor citizens. The budgetary preparation and allocation should also be pro-poor based and tailored towards improving the welfare of the larger population and not at further enriching the fewrich ones. The implementation of the above and other welfare enhancing policies would contribute to increasing the level of economic development in Nigeria.

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