The Racketeering of International Oil Trade: A  Synergy of Economic Growth in Nigeria

Prof. Past. Dr. Abomaye-Nimenibo; Williams Aminadokiari Samuel

Authors

Prof. Past. Dr. Abomaye-Nimenibo
Williams Aminadokiari Samuel

Keywords:

import, export, non-oil export, non-oil import, and economic growth

Abstract

The study examined the impact of international trade on economic growth in Nigeria. The specific objectives of the study were: to investigate the impact of oil export on the economic growth in Nigeria; to investigate the impact of oil import on the economic growth in Nigeria: to investigate the impact of non-oil export on the economic growth in Nigeria; to investigate the impact of non-oil import on the economic growth in Nigeria. Secondary data collected from the statistical bulletin of the Central Bank of Nigeria was used. The unit root test result was conducted, using Augmented Dickey-Fuller technique which showed that all the variables were stationary though at different levels. The Johansen co-integration result revealed that all the variables in the model have a long run relationship. The estimated result disclosed that there is a negative and insignificant relationship between oil import and economic growth in Nigeria; positive and insignificant relationship between oil export and economic growth in Nigeria; positive and significant relationship between non-oil import and economic growth in Nigeria, positive and significant relationship between non-oil export and economic growth in Nigeria.

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The Racketeering of International Oil Trade: A Synergy of Economic Growth in Nigeria. (2019). Global Journal of Human-Social Science, 19(31), 13-33. https://socialscienceresearch.org/index.php/GJHSS/article/view/2904

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Author Biography

Prof. Past. Dr. Abomaye-Nimenibo

Prof. Williams Aminadokiari Samuel Abomaye-Nimenibo is a distinguished academic and the Director of Post Graduate Studies at Obong University in Akwa Ibom State, Nigeria. With a PhD in Economics, an MBA in Management, and extensive qualifications in Personnel Management and Industrial Relations, he has dedicated his career to advancing economic research and education. His scholarly work spans over 50 publications, focusing on macroeconomic policy, public expenditure, taxation, unemployment, and socio-economic development in Nigeria and the broader African context. Prof. Abomaye-Nimenibo has also served as a peer reviewer for numerous international journals, contributing to the academic community beyond his own research. A pastor and a fellow of the Nigerian Institute of Management, he combines academic rigor with a commitment to societal improvement.

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