ANALYSIS OF OIL EXPORT AND CORRUPTION IN NIGERIA ECONOMY

Generally, it can be argued without doubt that the engine of Nigeria economic growth lies on crude oil exploration. In this study, it is recognized that corruption was-used as an independent variable because of its substantial adverse effect on Nigerian economy. Corruption has really eaten deep into the economy of the country and that is one of the major crises that Nigeria is facing today. This study analyses the impact of crude oil export on Nigeria economy and its level of corruption. The study focused mainly on the revenue generated from oil export with the purpose of assessing oil exploration and corruption with the objective of investigating Nigeria’s oil export and its contribution to the growth of economy and finding out if the level of corruption affects the economic growth in Nigeria. Based on the findings, the result portraits that oil export has significant impacted on the economy despite its effect by corruption which appears to be negatively related to other economic variables. Therefore it is recommended that the policy of oil and non-oil export promotion strategy should be taken serious by the government in order to effect a positive change. Federal government should pay more attention to sectors like agriculture and manufacturing, as well as inject.

Keywords: Oil Export, Corruption, Non-oil export, GDP, Economy