0704-883-0675     |      dataprojectng@gmail.com

THE INFLUENCE OF THE REDUCTION IN OIL PRICE AND THE DEVALUATION OF NAIRA ON THE NIGERIA ECONOMIC GROWTH

  • Project Research
  • 1-5 Chapters
  • Abstract : Available
  • Table of Content: Available
  • Reference Style: APA
  • Recommended for : Student Researchers
  • NGN 3000

 

ABSTRACT

This study examined “influence of Oil Price reduction and Naira devaluation on Nigeria Economic Growth”. The study made use of Generalized Auto-Regressive Conditional Heteroskedasticity GARCH (1,1) model to estimate effect of oil price fluctuation on economic growth in Nigeria. The data used was Quarterly data covering the period from 1986 - 2019 sourced from Central Bank of Nigeria Statistical Bulletin and OPEC database 2018. The variables used in the analysis are Gross Domestic product (GDP) was used as dependent variable, oil price, exchange rate and interest rate was used as the independent variable. The results shows that Oil price has positive and significant effect on the economic growth in Nigeria; reduction in oil prices, though has positive effects on economic growth but insignificant; Exchange rate(Naira Devaluation) has positive and significant effect on economic growth in Nigeria. It was recommended that Since oil price is positively related to economic growth, government should utilize properly the proceeds received from oil occasioned by oil price increase to basic and improve basic infrastructures like good and motorable roads, quality education and stable power supply. Government should as a matter of urgency create both vertical and horizontal linkages in oil sector to diversify the economy through the proceeds from oil. Government should continue to judiciously invest in infrastructural development to address key bottlenecks in order to reduce the cost of domestic production and increase domestic supply.

 

 




FIND OTHER RELATED TOPICS


Related Project Materials

THE IMPACT OF MARKETING LOGISTICS ON CORPORATE PROFITABILITY IN THE BREWERY INDUSTRY (A CASE STUDY OF NIGERIA BREWERY PLC ENUGU)

ABSTRACT

The study as the impacts of marketing logistics on the corporate profitability in the industry   ...

Read more
SOCIAL MEDIA AS AN EFFECTIVE TOOL TO CHECKMATE ACTIVITIES OF NIGERIAN POLICE FORCE (A CASE STUDY OF THE END SARS CAMPAIGN)

BACKGROUND OF THE STUDY

Since the revolutionary rise of ICT or digitalization in the modern world, part...

Read more
THE DANGER OF ILLICIT USE OF HARD DRUGS AMONG YOUTH IN TERTIARY INSTITUTIONS

ABSTRACT

Drug abuse is becoming an increasing problem in Nigeria. A number of studies carried out in th...

Read more
VARIETY REDUCTION AS A TOOL FOR EFFECTIVE MATERIALS CONTROL

Abstract

This research study is based on variety reduction as a tool for effective material control, a case study of Nig...

Read more
A STUDY ON THE SOCIAL EFFECT OF ADVERTISING ON THE NIGERIAN STUDENTS

Background To The Study

Advertisements are part of our social environment in the 21st century, and can...

Read more
EVALUATING THE EFFECTIVENESS OF FLIPPED CLASSROOM APPROACHES IN TECHNICAL EDUCATION

ABSTRACT: This research evaluates the effectiveness of flipped classroom approaches in tech...

Read more
AN INVESTIGATION OF WORK LIFE BALANCE AND ITS EFFECTS ON PERFORMANCE OF FEMALE EMPLOYEES IN THE BANKING INDUSTRY

BACKGROUND TO THE STUDY

The ability to play many roles is a necessary component of one's profession...

Read more
OIL IN NIGERIAN PROSE FICTION: A STUDY OF HELON HABILA’S OIL ON WATER AND KAINE AGARY’S YELLOW YELLOW

ABSTRACT

The history of oil exploration and production in the Niger Delta is a long, complex and often...

Read more
SMALL AND MEDIUM BUSINSSES DEVELOPMENT AGENCY AND THEIR IMPACT IN NIGERIA

Abstract

This study was carried out on Application of Statistical techniques in examining the benefit of small and mediu...

Read more
PROBLEMS AND POSSIBLE SOLUTIONS OF TEACHING LEARNING OF COMPUTER SCIENCE EFFECTIVELY

ABSTRACT

This research work has the title “problems and possible solutions of teaching-learning o...

Read more
Share this page with your friends




whatsapp