As a major oil producer and member of OPEC, Nigeria benefited greatly from the sharp increases in world oil prices during the 1970s. It was especially hard hit by the weakening of oil markets during the past four years, when its oil production had to be cut back sharply and its prices reduced....

The impact of oil price shocks on the macroeconomy has received a great deal of attention since the 1970 s. Initially, many empirical studies found a significant negative effect between oil price shocks and GDP but more recently, empirical studies have reported an insignificant relationship...

This study tests Wagner's law (the tendency for government activities to expand along with economic expansion) for Nigeria using annual time series data between 1970 and 2006. It adopts the bounds test approach proposed by Pesaran et al. (2001) based on unrestricted error correction model...

Purpose – The purpose of this paper is to present an empirical analysis of the aggregated import demand behavior for Nigeria using annual data between 1980 and 2006. Design/methodology/approach – The bounds test analysis was used to estimate the long-run relationship between imports and its...