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

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  • Ismail O Fasanya
  • Adegbemi B O Onakoya
  • Misbaudeen A Adabanija

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.

Suggested Citation

  • Ismail O Fasanya & Adegbemi B O Onakoya & Misbaudeen A Adabanija, 2013. "Oil Discovery and Sectoral Performance in Nigeria: An Appraisal of the Dutch Disease," The IUP Journal of Applied Economics, IUP Publications, vol. 0(2), pages 25-40, April.
    • Handle: RePEc:icf:icfjae:v:12:y:2013:i:2:p:25-40
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    Cited by:

    1. Liang, Huijun & Shi, Changkuan & Abid, Nabila & Yu, Yanliang, 2023. "Are digitalization and human development discarding the resource curse in emerging economies?," Resources Policy, Elsevier, vol. 85(PB).
    2. Adegbemi Babatunde Onakoya & Adedotun SEYINGBO Victor, 2020. "Economic Growth and Unemployment Nexus: Okun’s Two-Version Case for Nigeria, South Africa and United States of America," Journal of Economics and Behavioral Studies, AMH International, vol. 12(1), pages 55-65.

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