OIL AND NON-OIL REVENUES: ASSESSMENT OF CONTRIBUTIONS TO INFRASTRUCTURAL DEVELOPMENT IN NIGERIA

The poor state of infrastructures in Nigeria has elicited this investigation which aims at establishing the role of oil and non-oil revenues in improving infrastructural development in the country. The study covers a period from 2005 to 2019 using various econometric tools to ascertain the contribut...

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Bibliographic Details
Published in:Journal of Management Information and Decision Sciences 2020-01, Vol.23 (5), p.638-648
Main Authors: Omodero, Cordelia Onyinyechi, Ehikioya, Benjamin Ighodalo
Format: Article
Language:English
Subjects:
Banking industry
Capital stock
Consumer Price Index
Coronaviruses
Corruption
COVID-19
Crude oil
Crude oil prices
Economic growth
Economics
Energy economics
Expenditures
Foreign exchange rates
Government revenue
Government spending
Income taxes
Infrastructure
Investigations
Investments
Macroeconomics
Pandemics
Petroleum production
Revenue
Securities markets
Stock exchanges
Tax revenues
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Summary:The poor state of infrastructures in Nigeria has elicited this investigation which aims at establishing the role of oil and non-oil revenues in improving infrastructural development in the country. The study covers a period from 2005 to 2019 using various econometric tools to ascertain the contributions of the two primary revenue sources in Nigeria on infrastructures. The findings of this study reveal that oil revenue and exchange rate have a significant negative impact on infrastructural provisions. The inflation rate is not substantial in this study. However, non-oil revenue has a significant positive impact on infrastructural development in the country. The findings lead to the recommendation that the government will have to leverage more on tax revenue to execute its public responsibilities. The need for economic diversification should be vigorously pursued to keep the economy at equilibrium in the face of oil price shocks and fluctuations. However, all government revenues should be well applied to provide the necessary infrastructures in the country. The study also recommends that the government should come up with policies that would attract more Foreign Direct Investments that could help in the infrastructural and technological advancement of the country.
ISSN:1524-7252
1532-5806