Abstract
This study examined the effect of the effects of Oil and Non-Oil revenue (ONOR) on the Nigerian economy from the period of 1994 to 2021 (28years). Specifically, the measures of Oil and Non-Oil revenue, namely; Total Oil Revenue (TOR), Total Non-Oil Revenue (TNOR) and Total Revenue (TR) were analysed in relation Nigerian economy proxied Real Gross Domestic Product (RGDP). In a bid to actualize the research objectives, data was collected from the secondary source of data (time series data), from the CBN statistical bulletin and Annual Report for the period 1994-2021’. The data were analysed using descriptive statistics, followed by the correlation analysis in bids to ascertained the co-movement of the measures ONOR {TOR, TNOR and TR} in relation to the Nigerian economy proxied with RGDP and several diagnostics tests conducted in the bids to ascertain if the data are suitable for regression analysis with the aid of E-VIEW version 9. 0. It showed that; TOR with an associated p-value (sig. value) of 0.0000. This implies that TOR has a major significant effect on RGDP; TNOR with an associated p-value (sig. value) of 0.0097. This implies that TOR positively and significantly affects RGDP in Nigeria and TR with an associated p-value (sig. value) of 0.0000 in the multiple regression results. This shows that the impact of TR on RGDP is significant. The results show that the measurements of ONOR {TOR, TNOR and TR} used in this research has significant effects on the RGDP in Nigeria. Therefore, the study came to the conclusion that ONOR have a considerable effect on the expansion of the Nigerian economy. Recommended that improve revenue generation through non-oil operations, it is high time the government looked into the development of the sector which has wider opportunities for growth. This can be achieved through diversification to create more avenues through which the government can generate revenue to meet its financial needs.
 Keywords: Oil, Non-Oil, Revenue, Economy and Government.
Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callMore From: International Journal of Management & Entrepreneurship Research
Disclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
