Oil price fluctuations, oil revenue, and welfare in nigeria
Table Of Contents
Chapter ONE
1.1 Introduction1.2 Background of Study
1.3 Problem Statement
1.4 Objective of Study
1.5 Limitation of Study
1.6 Scope of Study
1.7 Significance of Study
1.8 Structure of the Research
1.9 Definition of Terms
Chapter TWO
2.1 Overview of Oil Price Fluctuations2.2 Historical Trends in Oil Prices
2.3 Impact of Oil Price Fluctuations on Global Economy
2.4 Effects of Oil Price Fluctuations on Nigeria
2.5 Oil Revenue in Nigeria
2.6 Welfare Indicators in Nigeria
2.7 Relationship between Oil Revenue and Welfare
2.8 Policies to Mitigate Effects of Oil Price Fluctuations
2.9 Comparative Studies on Oil Price Fluctuations
2.10 Theoretical Frameworks on Oil Price Fluctuations
Chapter THREE
3.1 Research Design3.2 Research Approach
3.3 Data Collection Methods
3.4 Sampling Techniques
3.5 Data Analysis Tools
3.6 Validity and Reliability
3.7 Ethical Considerations
3.8 Limitations of the Methodology
Chapter FOUR
4.1 Overview of Data Analysis4.2 Descriptive Statistics
4.3 Regression Analysis
4.4 Correlation Analysis
4.5 Findings on Oil Revenue and Welfare
4.6 Impact of Oil Price Fluctuations on Welfare
4.7 Policy Implications
4.8 Recommendations for Future Research
Chapter FIVE
5.1 Summary of Findings5.2 Conclusion
5.3 Implications for Policy and Practice
5.4 Contributions to Knowledge
5.5 Recommendations
Project Abstract
Although crude oil in Nigeria is indeed a blessing, the fly in the ointment is the fluctuating price of oil which looks somewhat like a curse. The overdependence on crude oil as the country’s main product leads to Dutch disease syndrome. This study contributes to existing literature by estimating the impact of oil price fluctuations and oil revenue on welfare in Nigeria for the period 1981-2014. Employing the Ordinary Least Square (OLS) estimation technique within an Error Correction Modelling (ECM) framework, this study found that oil price fluctuations have no significant impact on welfare, while oil revenue has a positive and significant impact on welfare. The study recommends among other things that; government should save more when the price of oil rises above its benchmark and; to give full control and management rights of the Excess Crude Account (ECA) and Sovereign Wealth Fund (SWF) to the CBN without any form of interference.
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