The Impact Of Oil Exportation On Economic Growth In Nigeria 2000-2016

The main objective of this paper is to study and measure the impact of oil exportation on economic growth in Nigeria by using advancement model multiple regression model to check the relationship between the oil export of Nigeria and Nigeria GDP using annual data covering the years 2000-2016,the source of the data is the Central Bank of Nigeria(CBN)and world bank database.The research focuses on the impacts of oil exports on the economic growth in Nigeria.Being one of the most developing countries in Africa,Nigeria GDP is mainly based on the export of oil and hydrocarbons.In addition,the research are applied to test the hypothesis of economic growth strategy led by exports.The research is based on the following hypothesis to test the correlation between the variable there is positive effects of oil exportation to RGDP in Nigeria,There is a decrease of RGDP when oil exportation in mediate by inflation,there are a short run or long run relationship between RGDP and oil exportation,A granger causality exists between RGDP and the independent variables.Importantly,this research aims at studying the impact of oil export on economy.Therefore,the relationship of oil export for Nigeria is a major point.Also the research tried to find out the extent and importance of oil exports on the trade,investment,labor.By achieving this research,there will be an attempt to investigate the positive and negative influence of oil exports in Nigeria in terms on economic sustainability and development.However,in views of this,we tried to research on how oil exports sector have contributed to economic growth in Nigeria recently.It can be concluded that oil industry in Nigeria has an positive and important role on the GDP in Nigeria.Its economy globally depends on this sector with 16%of the total GDP.Oil industry is playing a significant part in progress of the nation.It is the basic revenue sources of Nigeria economy.Nigeria government has taken advantage from opportunities produced by increase in the oil exports.However,the lagged impacts are flexible by the existing periods of contributions that could recommend that openings investment produced are not fully sub gated.The relationship between exports and GDP in the constant prices,however allowing the improvements in the terms of trade suggests that the export coefficient is highly significant in all years.Based on the results obtained and the variables respectively,we can conclude that there is a significant relationship between export oil and economic growth in Nigeria.