EAS Publisher | Government Expenditure and Oil Revenue in Nigeria

Government Expenditure and Oil Revenue in Nigeria

DOI : https://doi.org/10.36349/EASJEBM.2020.v03i05.004

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This paper analyzed and estimated the effects of oil revenue on government expenditure in Nigeria for the sample period of 1980 – 2018. The Autoregressive Distributed Lag model (ARDL) estimated with the Ordinary Least Square technique was used to examine the relationship among the variables. Findings from the model revealed that there was a direct and significant relationship between oil revenue, non-oil revenue, exchange rate and government expenditure, however, external debt exhibited a positive and insignificant relationship on government expenditure in the long run. There was a direct and significant relationship between the independent variables and government expenditure in the short run. The study therefore recommended deepening the oil and gas sector while significantly improving on the non-oil revenue for better economic outcomes.

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