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....

This paper formulates and estimates petroleum products demand functions in Nigeria at both aggregative and product level for the period 1977 to 2006 using multivariate cointegration approach. The estimated short and long-run price and income elasticities confirm conventional wisdom that energy...

Purpose The purpose of this paper is to empirically examine return and volatility spillovers between oil and the stock markets of Nigeria and South Africa. Design/methodology/approach The authors make use of an innovative new methodology of capturing spillovers, which is different from what many...

This study conducts an empirical investigation of the effects of fiscal incentives on investment in Nigeria. We constructed two indexes of fiscal incentives which track the different types and stages of incentives embarked upon since the 1970s and these indexes are then included in both private...