TY  - JOUR
T1  - Impact of Petroleum Revenue and the Economy of Nigeria
AU - Ebimobowei, Appah AU - Ogbonna, G.N. 
JO  - The Social Sciences
VL  - 7
IS  - 3
SP  - 405
EP  - 411
PY  - 2012
DA  - 2001/08/19
SN  - 1818-5800
DO  - sscience.2012.405.411
UR  - https://makhillpublications.co/view-article.php?doi=sscience.2012.405.411
KW  - Petroleum
KW  -revenue
KW  -economy
KW  -GDP
KW  -inflation
KW  -per capita income
KW  -Nigeria
AB  - This study investigates the impact of petroleum revenue and the economy of Nigeria for the period 1970-2009. To achieve this objective, primary and secondary data were used. The primary data was generated from a well structured questionnaires administered to 150 oil and gas and non oil and gas workers in Rivers and Bayelsa states, respectively. The secondary data was culled from the Central Bank of Nigeria Statistical Bulletin 1970-2009. The data collected were analysed using Pearson product correlation coefficient, Ordinary Least Square Regression and descriptive statistics. The results of the analysis suggests that petroleum revenue affects the gross domestic product and per capital income of Nigeria positively. However, the relationship between petroleum revenue and inflation rate was negative. Therefore, the research conclude that the revenue generated from petroleum exploration in Nigeria contributes to the gross domestic product and per capita income, hence proper management and utilization to achieve long run growth and development of the country. Useful recommendations were provided to improve the revenue generation effort and usage of the oil wealth in Nigeria.
ER  -