Impact of Shale Oil Development on Crude Oil Exports in Nigeria

Impact of Shale Oil Development on Crude Oil Exports in Nigeria

Author by Dr. Esther Lawal

Journal/Publisher: International Journal Advances In Social Science And Humanities

Volume/Edition: 5

Language: English

Pages: 327 - 327

Abstract

This paper examined the impact of shale oil development on crude oil export in Nigeria for the period of 2007-2015. Total crude oil import was used to capture Nigeria crude oil export during the periods 2007- 2015. The vector error correction model was used to analyze the time series data. The result indicated a long run relationship between the variables, the proportion of shale oil production in US total crude oil import were both positively related to Nigerian crude oil export. The study therefore recommends that Nigeria should diversify the economy and focus more on domestic manufacturing enterprises, agricultural sector and the mining sector which will help her be less import dependent if she wants to survive.

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