The Effect of Gasoline Price on Economic Sectors in Nigeria

This paper examined the long-run and short-run relationship between gasoline price and sectoral output in Nigeria for the period from 1980 to 2010. Six sectors (agriculture; manufacturing; building and construction; wholesale and retail; transportation and communication) of the economy were examined...

Full description

Saved in:
Bibliographic Details
Published in:International journal of energy economics and policy 2013-01, Vol.3 (1), p.99
Main Authors: Nwosa, Philip Ifeakachukwu, Akinyemi, Alao Ajibola
Format: Article
Language:English
Subjects:
Agriculture
Causality
Consumption
Crude oil
Crude oil prices
Diversification
Earnings
Economic impact
Economic reform
Energy economics
Energy prices
Error correction & detection
Expenditures
Gasoline prices
GDP
Gross Domestic Product
Manufacturing
Petroleum industry
Power supply
Price increases
Variables
Online Access:Get full text
Tags: Add Tag
No Tags, Be the first to tag this record!
Description
Summary:This paper examined the long-run and short-run relationship between gasoline price and sectoral output in Nigeria for the period from 1980 to 2010. Six sectors (agriculture; manufacturing; building and construction; wholesale and retail; transportation and communication) of the economy were examined. The long run regression estimate showed that gasoline price is a significant determinant output in all sectors examined with exception to the building and construction sector while the short run error correction estimate revealed that only output of the agriculture and the manufacturing sectors of the Nigerian economy is affect by gasoline price increase in the short run. The study recommended among others the need for the government to ensure adequate power supply in order to reduce the over reliance of economics sectors on gasoline as a prime source of power. [PUBLICATION ABSTRACT]
ISSN:2146-4553
2146-4553