The Trend Analysis of Oil Revenue and Oil Export in Nigeria

Abstract

The oil sector has generated huge revenue to the Nigerian Economy, yet the prevalence economic situation rather than showcasing the benefits from this economic driver of Nigeria, depicts a divergence view about the economy. The question is what happens to the manufacturing sector, human capital development and the agricultural sector of the economy? This paper attempted to descriptively analyze the trends of oil revenue and oil export as it relates to other potential economic variables required for the transformation of the Nigerian economy. The paper also make a comparative analysis of how such chosen variables behave before and after democracy to determine the period where oil revenue management impacted positively on the economy as a means of enhancing the standard of living of the ordinary Nigerian, their health status, infrastructural facilities like power etc. However, recommendations has been proffer for policy makers and the stakeholders, which if adequately implementated will enhance efficient and effective management of Nigeria oil revenue with the broad aim of transforming the economy and positioning it for global relevance.