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.
Related Project Materials
FACTORS AFFECTING THE LOW ENROLMENT OF STUDENTS IN VOCATIONAL AND TECHNICAL EDUCATION IN NIGERIA
ABSTRACT
This project work was to determine the factors that contribute to low enrolment of students in...
IMPACT OF ADULT EDUCATION ON SUSTAINABLE DEVELOPMENT GOALS
Abstract: This research examines the impact of adult education on Sustainable Development Goals (SDGs). The study aimed to explore how adult e...
AN APPRAISAL OF THE LEGAL FRAMEWORK FOR COMBATING CYBERCRIME IN INTERNATIONAL LAW
ABSTRACT
The current wave of globalization and technological revolution has tremendous effect on the way people interact, carry out busin...
EFFECT OF FORENSIC ACCOUNTING ON FINANCIAL FRAUD IN NIGERIA
BACKGROUND OF THE STUDY
Fraud is an endemic that are gradually becoming a normal way of life in both pu...
THE CONTRIBUTION OF AGRICULTURE COOPERATIVE SOCIETIES TO FOOD PRODUCTION (A CASE STUDY SELECTED AGRICULTURAL COOPERATIVE SOCIETIES IN ENUGU NORTH LOCAL GOVERNMENT AREA, ENUGU STATE)
ABSTRACT
Modern form of Co-operative leaves their origin in the tension and opportunities created by industrialization...
ANALYSIS OF FEDERAL CHARACTER AND QUOTA SYSTEM IN NIGERIA: A CASE STUDY OF FEDERAL RADIO CORPORATION
ABSTRACT
The main purpose of this research work was to examine the analysis of federal character and quota system in Nig...
PAEDAGOGICAL-CAPACITY BUILDING NEEDS OF AGRICULTURAL SCIENCE TEACHERS FOR EFFECTIVE LESSON DELIVERY IN SECONDARY SCHOOLS IN KWARA STATE, NIGERIA
ABSTRACT
This study assessed the paedagogical-capacity building needs of agricultural science teachers for effective lesson delivery in s...
FINANCIAL REPORTING CHALLENGES IN THE DIGITAL ECONOMY
Abstract:
This study examines the financial reporting challenges faced in the digital economy in Lagos...
DESIGN AND IMPLEMENTATION OF ONLINE RADIO STREAMER APPLICATION
ABSTRACT
This research work deals with an online radio streaming application. Chapter one is an introduction to the proj...
A STUDY INTO THE INFLUENCE OF FIELD STUDY ON ACADEMIC PERFORMANCE OF GEOGRAPHY STUDENTS (Case study of Geography Department, UNIBEN)
ABSTRACT
This study was carried out to investigate a study into the influence of field study on academic performance of...
