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Investigating the Relationship between Oil Exports and Economic Growth in Nigeria (2000-2023)

This study investigates the relationship between oil exports and economic growth in Nigeria from 2000 to 2023. The econometric techniques of ordinary least squares (OLS), Phillips-Perron (PP), Unit Root Tests, and Johansen co-integration tests are employed in the empirical analysis, along with Vector Error Correction Modelling, within the Resource Curse theoretical framework. The study reveals two distinct long-run equilibrium relationships among GDP, oil exports, government expenditure, and corruption. Results demonstrate that while oil wealth and government spending theoretically possess gro…

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