A critical Evaluation of Implications of Oil Revenue for Nigeria Economic Growth 1989 to 2018

EBO, B.O (2019) A critical Evaluation of Implications of Oil Revenue for Nigeria Economic Growth 1989 to 2018. Continental Journal of Social Sciences, 11 (1). pp. 17-28. ISSN 2141 – 4265

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Abstract

The implication of oil revenue on Nigeria’s economic growth between 1989 and 2018 was examined in this study. Secondary data from statistical bulletin of Central Bank of Nigeria (CBN) was used in this study. Multiple regression technique of the IBM Statistical Package for Social Sciences (SPSS) version 23 was used in analyzing the data for this study. Findings from the analysis revealed that revenue from oil positively and significantly impacted on Nigeria’s economic growth. It is imperative given the importance of the oil sector of the economy for the government to invest more in the sector and encourage local participation. However, because of reducing revenue from this sector, the government should revitalise the agricultural sector, the country’s cash cow before discovery of petroleum.

Item Type:	Article
Subjects:	H Social Sciences > H Social Sciences (General) H Social Sciences > HB Economic Theory H Social Sciences > HF Commerce
Divisions:	Faculty of Law, Arts and Social Sciences > School of Management
Depositing User:	Miss Ayomikun Ogunbadejo
Date Deposited:	02 Jun 2020 15:08
Last Modified:	02 Jun 2020 15:08
URI:	http://eprints.federalpolyilaro.edu.ng/id/eprint/323

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