Global Educational Research Journal

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Crude Oil Export and its Impact in Developing Countries: A Case of Nigeria

*1Eravwoke K.E.E, 2Alobari CM and 3Ukavwe A




Accepted 30th May, 2014


This study examines crude oil export and its impact in a developing country: A case of Nigeria. The ultimate objectives of the study centered on an empirical investigation of crude oil export and it impact on growth of the Nigerian economy. In order to achieve these objectives, the study used ordinary least squares regression method, Augmented Dickey Fuller unit root, co-integration test and the short run dynamics. Data was collected mainly from secondary sources, such as central bank of Nigeria bulletin, Bureau of statistics, Journals and Textbook. The unit root text revealed that crude oil export, gross domestic product and investment were stationary at levels but exchange rate of the Nigerian economy became stationary after taking the first difference. The short run result showed that there is a significant relationship between crude oil export of the Nigeria economy. The study recommends that caution should be placed on macroeconomic policy to boost manufactured export of other commodities via investment.


Keywords: crude oil, export, economic growth