ABSTRACT
The
study was carried to ascertain the effect of oil and non-oil revenue of the
government on economic growth of Nigeria. The scope of the research covers a
period of thirty-five years running from 1981 to 2015. The researcher made use
of multiple linear regression models. Secondary data on oil and non-oil revenue
of the government for the period were collected from CBN statistical bulletin.
Economic growth which is the dependent variable was represented by gross
domestic product (GDP), real gross domestic product (RGDP) and per capita gross
domestic product (PCGDP). The researcher applied the augmented Dickey-Fuller
unit root test, cointegration test and error correction model in analysis of
data. From the findings, oil and non-oil revenue exerted a positive and
significant effect on gross domestic product, real gross domestic product and
gross domestic product per capita of Nigeria. On this premise, the study
recommended that more can be done to increase revenue generation through
non-oil producing sectors of the economy by making available enabling
environment and incentives that can facilitate economy diversification. Also,
oil revenue can as well be improved on by instituting proper corporate
governance that checks corruption and ensures full revenue remittance to the
Federation account by the Nigeria National Petroleum Corporation. The
researcher further suggested vesting the right for oil production solely on
Nigeria owned companies like the NNPC other than sharing such with expatriate
firms.
UDEH, H (2024). assessment of effect of oil and non-oil revenue on economic growth of Nigeria:- Udeh, Henry E.. Mouau.afribary.org: Retrieved Oct 31, 2024, from https://repository.mouau.edu.ng/work/view/assessment-of-effect-of-oil-and-non-oil-revenue-on-economic-growth-of-nigeria-udeh-henry-e-7-2
HENRY, UDEH. "assessment of effect of oil and non-oil revenue on economic growth of Nigeria:- Udeh, Henry E." Mouau.afribary.org. Mouau.afribary.org, 26 Mar. 2024, https://repository.mouau.edu.ng/work/view/assessment-of-effect-of-oil-and-non-oil-revenue-on-economic-growth-of-nigeria-udeh-henry-e-7-2. Accessed 31 Oct. 2024.
HENRY, UDEH. "assessment of effect of oil and non-oil revenue on economic growth of Nigeria:- Udeh, Henry E.". Mouau.afribary.org, Mouau.afribary.org, 26 Mar. 2024. Web. 31 Oct. 2024. < https://repository.mouau.edu.ng/work/view/assessment-of-effect-of-oil-and-non-oil-revenue-on-economic-growth-of-nigeria-udeh-henry-e-7-2 >.
HENRY, UDEH. "assessment of effect of oil and non-oil revenue on economic growth of Nigeria:- Udeh, Henry E." Mouau.afribary.org (2024). Accessed 31 Oct. 2024. https://repository.mouau.edu.ng/work/view/assessment-of-effect-of-oil-and-non-oil-revenue-on-economic-growth-of-nigeria-udeh-henry-e-7-2