A COMPARATIVE ANALYSIS OF THE IMPACT OF FLUCTUATING OIL PRICES ON NIGERIA AGRICULTUREAL AND INDUSTRIAL SECTORS

This study objective is centered on establishing a relationship between the fluctuating oil prices in the global market and the negative impact on the economy of oil-producing countries with, focus on the Agricultural and industrial sectors. The analysis employed the unrestricted Vector Autoregressive methodology as its empirical technique, with a quarterly time series data spanning from 1981 quarter one through 2020 quarter four, which covered 112 observations.

The specific objectives of the study are to examine the impact of fluctuating in oil price on economic growth of Nigeria; to find out the extent fluctuating in oil price influence the Nigerian agricultural and industrial growth; to provide insight about the oil prices behavior towards commodity market, stock market and bilateral exchange rate in Nigeria; to determine the policy implications of such response on Nigerian economy. This research consists of a title page, approval page, certification, abstract, List of Abbreviations, Chapters One to Five (from introduction to conclusion), and references.