International records / OpenAlex research

External Sector Shocks and Macroeconomic Stability in Nigeria

This study investigated the effect of external sector shocks on macroeconomic stability in Nigeria over the period 1990 to 2025. Oil Price, Exchange Rate Volatility, and Remittance were used to proxy external sector shocks while Gross Domestic Product was used as a stand-in for macroeconomic stability. Data were obtained from the World Banks World Development Indicator (WDI), and Central Bank of Nigeria (CBN) statistical Bulletin 2025. The study employed the Augmented Dickey Fuller unit root approach to ascertain if the variables are stationarity or not. Based on the outcome, it was revealed t…