Oil price fluctuation and economic growth in nigeria

CRUDE OIL PRICE FLUCTUATION AND THE NIGERIAN ECONOMY Apere ,T.O and Eniekezimene, A.F Department of Economics, Niger Delta University Bayelsa State, Nigeria. ABSTRACT Fluctuation in oil prices has been occurring since the end of the Second World War. These days, the rate of fluctuation in oil price is more pronounced.

between oil price changes and real GDP response as discovered by Mork international price of oil is associated with a 2.2% growth (decline) in the level of case of Nigeria is interesting, since on its example one may observe how the. Dec 5, 2016 fluctuations in oil prices on Libya's economic growth. the study found the impact of oil price fluctuations on economic of Nigeria by Using. May 17, 2019 Impact of oil price shocks and exchange rate volatility on economic growth in Nigeria: An empirical investigation. MPPR, Paper No. 16319. Apr 3, 2018 to which oil price volatilities negatively affects the Nigerian economy. and transfers of technology and contributes to economic growth and. importing one. This paper will attempt to quantify the impact of oil price on growth for relationship between changes in GDP and changes in oil prices. Republic of Iran, Iraq, Kuwait, Libya, Nigeria, Qatar, Saudi Arabia, United Arab Emirates. The extractive sector in the Nigerian economy is large and extensive, with oil can Crude Oil Price fluctuations hinder sustainable economic growth in Nigeria?

This makes it necessary to examine the effect of oil price volatility on economic growth in an oil exporting country like Nigeria and this has a special significance.

Oil Price Fluctuations and Economic Growth in Nigeria (Evidence From Granger Causality Test) Umar Muhammad Gummi, Aliyu Isah Buhari and Ahmad Muhammad Department of Economics, Sokoto State University, Sototo, PMB 2134, Nigeria Abstract How to cite this article: Umar Muhammad Gummi, Aliyu Isah Buhari and Ahmad Muhammad, 2017. Oil Price Fluctuations and Economic Growth in Nigeria (Evidence From Granger Causality Test). CRUDE OIL PRICE FLUCTUATION AND THE NIGERIAN ECONOMY Apere ,T.O and Eniekezimene, A.F Department of Economics, Niger Delta University Bayelsa State, Nigeria. ABSTRACT Fluctuation in oil prices has been occurring since the end of the Second World War. These days, the rate of fluctuation in oil price is more pronounced. The impacts of fluctuations in oil prices on economic growth and their mechanism in oil-exporting countries differ from those in the oil-importing countries (Moshiri and Banihashem, 2012). Over the years, concerned economists have examined the possible factors that lead to oil price fluctuations. Oil price shocks significantly determine the real exchange rate and significantly affect the money supply in the long run. In this research, we find the relationship between world Oil price shocks and economic growth of the Ghanaian economy. For a newly oil producing country like Ghana, such price shocks have

(2012) showed the evidence that stable energy prices (including crude oil) would boost GDP growth and the economy would perform better in such situation.

How to cite this article: Umar Muhammad Gummi, Aliyu Isah Buhari and Ahmad Muhammad, 2017. Oil Price Fluctuations and Economic Growth in Nigeria (Evidence From Granger Causality Test). CRUDE OIL PRICE FLUCTUATION AND THE NIGERIAN ECONOMY Apere ,T.O and Eniekezimene, A.F Department of Economics, Niger Delta University Bayelsa State, Nigeria. ABSTRACT Fluctuation in oil prices has been occurring since the end of the Second World War. These days, the rate of fluctuation in oil price is more pronounced. The impacts of fluctuations in oil prices on economic growth and their mechanism in oil-exporting countries differ from those in the oil-importing countries (Moshiri and Banihashem, 2012). Over the years, concerned economists have examined the possible factors that lead to oil price fluctuations. Oil price shocks significantly determine the real exchange rate and significantly affect the money supply in the long run. In this research, we find the relationship between world Oil price shocks and economic growth of the Ghanaian economy. For a newly oil producing country like Ghana, such price shocks have a shock to oil prices.Based on all these findings, very limited studies have been done to assess the direct effects of oil price fluctuations on the economic growth. This study fills this gap by investigating the extent and magnitude of the shocks, contributions to the growth of Nigeria economy. Theoretical Framework Nigeria has substantially lost income from oil and has to fund the 2016 budget mainly from borrowed funds and perhaps from recovered loot. Thus, this study examined the impact of fallen oil prices Impact of High Oil Prices on African Economies balance of payments positions and possibly leading to lower economic growth than in the absence of the oil shock. 4.1.1 Literature Review A large number of studies have investigated the macro-economic impact of oil price shocks, focusing in particu-lar on the response of economic growth and consumer

This makes it necessary to examine the effect of oil price volatility on economic growth in an oil exporting country like Nigeria and this has a special significance.

Impact of oil price volatility on Nigeria economic growth cannot be over- emphasised. Download the full project work below. Aug 31, 2016 Nigeria's struggle with the global oil-price decline has been another growth driver for the Nigerian economy—and left investors at a loss over  Jul 19, 2018 But that is about to change. The Nigerian economy is still very vulnerable to oil price shocks in my We must seek practical ways of attracting genuine investors to invest in the development of our other mineral resources. countries. With China's continuous economic growth and opening up, oil price fluctuations will have greater impact on China's economic growth and stability,  Objective: This study examined the relationship between oil price and economic growth in Nigeria using annual time series data for the period 1974-2014 sourced from Central Bank of Nigeria (CBN) statistical bulletin, OPEC and world bank for the year 2014.Methodology: Non-probability sampling method in the form of availability sampling technique has been applied in selecting the number of years The Impact Of Oil Price Changes On The Economic Growth Of Nigeria. ABSTRACT This study examines the impact of oil price changes on the economics growth of Nigeria; this explains that the changes have a negative impact on the GDP (Gross Domestic Product).This change is also known as price volatility.

Jan 21, 2019 ollowing the collapse of crude oil prices in 2018, which triggered unpleasant its oil wealth into rising living standards for its growing population. has made the Nigerian economy highly susceptible to oil price volatility.

The impacts of fluctuations in oil prices on economic growth and their mechanism in oil-exporting countries differ from those in the oil-importing countries (Moshiri and Banihashem, 2012). Over the years, concerned economists have examined the possible factors that lead to oil price fluctuations. Oil price shocks significantly determine the real exchange rate and significantly affect the money supply in the long run. In this research, we find the relationship between world Oil price shocks and economic growth of the Ghanaian economy. For a newly oil producing country like Ghana, such price shocks have a shock to oil prices.Based on all these findings, very limited studies have been done to assess the direct effects of oil price fluctuations on the economic growth. This study fills this gap by investigating the extent and magnitude of the shocks, contributions to the growth of Nigeria economy. Theoretical Framework

Aug 22, 2017 PDF | On Dec 15, 2016, Umar Muhammad Gummi and others published Oil Price Fluctuations and Economic Growth in Nigeria (Evidence From  May 5, 2018 PDF | Abstract There has been mixed findings regarding the relationship between oil price fluctuations and the growth of an economy. Fulltext - Oil Price Fluctuations and Economic Growth in Nigeria (Evidence From Granger Causality Test) Hooker (1996) notes that real growth in GDP prior to 1980 was negatively af- fected by oil price changes. The post-1980 relationship between oil prices, economic.