Impact Of Crude Oil Price Volatility On Economic Growth Of Nigeria From 1980-2012
ABSTRACT
This study examines the impact of crude oil price volatility
on the economic growth in Nigeria from 1980-2012. Secondary sources of data
which includes, gross domestic product, total crude oil production, Exchange
rate, inflation rate, crude oil price volatility, were sourced from the central
bank of Nigeria, Nigeria National petroleum corporation, and U.S Energy
Information Administration (EIA). The study employed ordinary least square
method regression techniques and standard deviation to analyse the data, it
also employed SPSS statistical software to analyse the data. The result shows
that crude oil price volatility, Exchange rate, total crude oil production were
positive significant relationship with Gross Domestic Product, while inflation
was not significantly related to Gross Domestic Product. We recommend that
appropriate policy measures that control inflation should be adopted to improve
the level of economic growth in Nigeria.
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OKOLI, I (2021). Impact Of Crude Oil Price Volatility On Economic Growth Of Nigeria From 1980-2012. Mouau.afribary.org: Retrieved Nov 17, 2024, from https://repository.mouau.edu.ng/work/view/impact-of-crude-oil-price-volatility-on-economic-growth-of-nigeria-from-1980-2012-7-2
IFEANYICHUKWU, OKOLI. "Impact Of Crude Oil Price Volatility On Economic Growth Of Nigeria From 1980-2012" Mouau.afribary.org. Mouau.afribary.org, 03 Dec. 2021, https://repository.mouau.edu.ng/work/view/impact-of-crude-oil-price-volatility-on-economic-growth-of-nigeria-from-1980-2012-7-2. Accessed 17 Nov. 2024.
IFEANYICHUKWU, OKOLI. "Impact Of Crude Oil Price Volatility On Economic Growth Of Nigeria From 1980-2012". Mouau.afribary.org, Mouau.afribary.org, 03 Dec. 2021. Web. 17 Nov. 2024. < https://repository.mouau.edu.ng/work/view/impact-of-crude-oil-price-volatility-on-economic-growth-of-nigeria-from-1980-2012-7-2 >.
IFEANYICHUKWU, OKOLI. "Impact Of Crude Oil Price Volatility On Economic Growth Of Nigeria From 1980-2012" Mouau.afribary.org (2021). Accessed 17 Nov. 2024. https://repository.mouau.edu.ng/work/view/impact-of-crude-oil-price-volatility-on-economic-growth-of-nigeria-from-1980-2012-7-2