NEW PARTNERSHIP FOR AFRICA’S DEVELOPMENT AND ECONOMIC GROWTH IN NIGERIA

Africa has registered'its commitment and determination for socio economic transformation,.and accelerated development through the New Partnership for African developmentf. (NEPAD) programme of the African Union. NEPAD, as a continental initiative, has brought to the fore, more than ever before, the requisite political will to the overarching objective of reducing poverty. Thus, the objective of this study is to examine the role of NEPAD on economic growth of Nigeria. The data for the study is the actual expenditure data on the three sampled sectors from NEPAD office in Abuja and the real Gross Domestic Product (GDP) for the corresponding periods extracted: from CBN statistical bulletin. The data was analysed using Ordinary Least Square regression to show the relationship between NEPAD and economic growth. The result shows that NEPAD has positive impact on Nigerian economy. It is recommended that The government should increase budgetary allocation to the Agricultural, educational and health sector. The allocation should be based on the agreement as contained in the NEPAD policy framework. This will promote economic development.