Oil Revenue, Government Expenditure and Poverty Rate in Nigeria

Adelowokan Oluwaseyi A

Oil Revenue, Government Expenditure and Poverty Rate in Nigeria

Adelowokan Oluwaseyi A * §

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Olabisi Onabanjo University, Nigeria

Oil Revenue, Government Expenditure and Poverty Rate in Nigeria

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Abstract

This study examines the impact of revenue from oil proceeds and disaggregated government spending on poverty rate in Nigeria. Different econometrics tests i.e. pre-estimation test, estimation techniques and diagnostic tests such as Augmented Dickey Fuller, Engel-Granger co-integration, Ordinary Least squares and Granger causality were analysed using the data sets within the period of 1970 and 2013. Empirical result disclosed that gross domestic product and revenue from oil proceeds exert negative effect on poverty rate in Nigeria during the reviewed period. This revealed that oil proceeds being the main revenue source in Nigeria have greater impact in ensuring equal distribution of income as a means of reducing poverty level among her citizens. Painstakingly, these proceeds are not channelled into right directions with regards to government spending on capital projects and recurrent expenditure. This further exacerbates the poverty level in Nigeria.

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Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

Ethical Approval

No ethics committee approval was required for this article type.

Data Availability

Not applicable for this article.

How to Cite This Article

Adelowokan Oluwaseyi A. 2015. "Oil Revenue, Government Expenditure and Poverty Rate in Nigeria". Global Journal of Management and Business Research - B: Economic & Commerce GJMBR-B Volume 15 (GJMBR Volume 15 Issue B10).

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GJMBR Volume 15 Issue B10

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Journal Specifications

Crossref Journal DOI 10.17406/GJMBR

Print ISSN 0975-5853

e-ISSN 2249-4588

Keywords

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Classification

GJMBR-B Classification JEL Code: P46

Submission ReceivedFebruary 11, 2015
Peer Review Double Blind
Handling Editor
Accepted March 5, 2015
Published March 15, 2015

Version of record

v1.2

Issue date

November 30, 2015

Language

English

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Article Matrices

Total Score: 151

Country: Nigeria

Subject: Global Journal of Management and Business Research

Authors: Adelowokan, Oluwaseyi Adedayo, OSOBA, Adenike. M. (PhD/Dr. count: 0)

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Publish Date: 2015 03, Sun

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