Evaluation of impact of effective cargo distribution on Nigerian economy

Abstract

This study is an evaluation of impact of effective cargo distribution on Nigerian economy. The rate of unemployment, inflation and high cost of living in Nigeria is becoming alarming. The study is aimed to determine the rate of increase in GDP; effective cargo distribution in Nigeria economy; and the relationship between the dependent and independent variables as used in this study. The data collected on this study are from secondary source online World Bank annual reports. Standard deviation and regression analyses were relevant tools used for data evaluation. The findings of the study identified economic recession, inadequate production of goods, services and low capita income. The standard deviation of Nigeria GDP is below the arithmetic mean which implies that enough goods and services are not produced to spread out over the increasing population. There is effective cargo distribution to the Nigerian population, the standard deviation on GDP per capita shows a well spread out of the data points which signifies that goods and services are properly distributed to the increasing population. The regression analyses tables show that the independent variable explains 74% of the variance of the dependent variable. The f-value is 1.201, and the corresponding significance level is 0.290, hence, the independent variable influences the dependent variable. The regression equation given in this analysis shows that a unit increase in the independent variable will respond to increase in the dependent variable. Therefore, this can be used as a model for benchmark to improve economic growth and development in the Nigerian economy.