Oil Discovery and Sectoral Performance in Nigeria: An Appraisal of the Dutch Disease

Ismail Fasanya, Adegbemi Onakoya and Misbaudeen A Adabanija

The IUP Journal of Applied Economics, 2013, vol. XII, issue 2, 25-40

Abstract: This study examines the effect of oil discovery on sectoral performance in Nigeria, using the time series data from 1975 to 2010. The empirical analysis rests on the Dutch Disease (DD) hypothesis and also combines several procedures in modern econometric estimation techniques. The findings show that oil discovery in Nigeria affects both the agricultural and industrial sectors. However, the effect on the agricultural sector is larger than that on the industrial sector, thus, confirming the existence of DD in Nigeria. The study therefore recommends that the government should give priority to the agricultural sector through the provision of infrastructures, incentives in the form of subsidies, and general modernization of agricultural activities.

Date: 2013
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Persistent link: https://EconPapers.repec.org/RePEc:icf:icfjae:v:12:y:2013:i:2:p:25-40

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