Effect of Palm and Kernel Oil Revenue on Economy Growth in Nigeria

Joseph; Fineboy Ikechi; Ukangwa; Jane Uchechi

doi:10.56201/jafm.vol.11.no11.2025.pg407.427

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Effect of Palm and Kernel Oil Revenue on Economy Growth in Nigeria

Joseph, Fineboy Ikechi, Ukangwa, Jane Uchechi

Abstract

The study seeks to examine the effect of palm oil and kernel oil accounting on economic growth in Nigeria. The ex-post facto design was adopted in this study. The study population consist of 26 years’ period given the number of years the data was collected. Using a consensus sampling method, 26 years was used as a sample size. The study used the ordinary least square regression technique specifically the Vector Autoregressive model for testing the hypotheses stated. The first findings revealed that palm oil revenue has no significant impact on gross domestic product in Nigeria while the second findings revealed that kernel oil revenue has no significant impact on gross domestic product in Nigeria. As a result, it is recommended that, the Nigerian government should ensure that there is a diversification of Nigerian economy from a mono-product based on crude oil to other agricultural products like palm kernel oil and palm oil products. This would increase the revenue base of Nigeria, create more jobs and increase productivity which in turn will increase the gross domestic product of Nigeria.

Keywords

Palm oil Accounting. Kernel Oil AccountingNigerian Economy

References

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Effect of Palm and Kernel Oil Revenue on Economy Growth in Nigeria

Abstract

Keywords

References

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