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

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

Prof. Abomaye-Nimenibo Williams Aminadokiari Samuel Ph.D., M.Sc., B.Sc. Economics, MBA Management and UD, Personnel Management and Industrial Relations, Director of Postgraduate Studies, School of Postgraduate Studies

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

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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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No external funding was declared for this work.

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The authors declare no conflict of interest.

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How to Cite This Article

Prof. Abomaye-Nimenibo Williams Aminadokiari Samuel. 2019. \u201cThe Racketeering of International Oil Trade: A Synergy of Economic Growth in Nigeria\u201d. Global Journal of Human-Social Science - E: Economics GJHSS-E Volume 19 (GJHSS Volume 19 Issue E5).

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GJHSS Volume 19 Issue E5

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Crossref Journal DOI 10.17406/GJHSS

Print ISSN 0975-587X

e-ISSN 2249-460X

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GJHSS-E Classification FOR Code: 910103

Submission ReceivedDecember 12, 2018
Peer Review Double Blind
Handling Editor
Accepted January 2, 2019
Published January 15, 2019

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August 5, 2019

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