Submit your papersSubmit Now
For Enquiries: [email protected]
IIARD LogoIIARD

Sustainable Development Goals in Nigeria: A Study of the Impact of Nigeria's Black Gold and Other Resources Revenue

Peter-Mario Efesiri EFENYUMI, Alutosa Uwomano IKELEGBE, Stanley Ovwigho OBIEBI, Victory Etuatimi MIRINN

Abstract

Sustainability is a strategic integrated framework for balancing socio-economic and environmental growth that has been identified as a main priority in restoring global ecosystem, rebuilding and protecting non-renewable resources as much as possible for the future generation was the impetus for the study of the impact of oil and tax revenues in attaining sustainable development goals in Nigeria. The survey research strategy was used to collect primary data through copies of questionnaire which were analysed for descriptive and inferential statistics. The result of the OLS regression revealed that jointly, oil revenue and tax revenue have very significant affirmative influence on the building of sustainable communities and cities (SDG 11) (F-stat (1123.86; p-value = 0.0000 < 0.005); also that oil revenue and tax revenue have very significant progressive influence on the efforts targeted at achieving peace, justice and strong institution in Nigeria (F-stat = 803.01; p-value of 0.0000 < 0.005) and upon these results that the study concluded that oil and tax revenues significantly influence the building of sustainable communities and cities (SDG 11) and promote efforts targeted at achieving peace, justice and strong institution (SDG 16) in Nigeria.

Keywords

SustainableDevelopmentGoalsSustainabilityOil RevenueTax RevenueSDG 11SDG 16Nigeria. JEL Classification: Q01H27Q56

References

Abimbola, W.O. (2021). Military expenditure, oil revenue and economic growth in Nigeria: A joint-interactive term approach. Research Association for Interdisciplinary Studies, 93- 98. https://doi.org/10.5281/zenodo.5701686 Abu, R., Kumar, P., & Nigel, S. (2023). A review on qualitative assessment of natural gas utilisation options for eliminating routine Nigerian gas flaring. Gases, 3, 1–25. https://doi.org/10.3390/gases3010001 Adeosun, O. (2021). The impact of tax revenue on sustainable development goals in Nigeria. Journal of African Economies, 30(4), 550-572. Ajeigbe, K.B., Ganda, F., & Enowkenwa, R.O. (2024). Impact of sustainable tax revenue and expenditure on the achievement of sustainable development goals in some selected African countries. Environment, Development and Sustainability, 26, 26287–26311. https://doi.org/10.1007/s10668-023-03730-y Akaegbobi, T.N., Gilbert, O.N., Uzodimma, A.C. (2024). Economic effect of expenditure cost of Niger Delta in Nigeria. Journal of Accounting and Financial Management, 10(4), 262- 277. https://doi.org/10.56201/jafm.v10.no4.2024.pg262.277 Akinwumi, O.D., Etaoghenevwegba, G.C., & Esidene, E.C. (2023). Understanding issues and challenges of national security in Nigeria. /vol 1, No 1 & 2 / March & June, 2023 Https://www.jopd.com.ng Alwell N. 2020). Security Expenditure: Implications on economic growth in Nigeria. International Journal of Economics, Business and Management Studies, 7(2), 234-246. https://ideas.repec.org/a/onl/ijebms/v7y2020i2p234-246id271.html Anaele, A.A., & Ekekwe, M.O. (2023). Oil revenue and real sector performance in the Nigerian economy. Gusau International Journal of Management and Social Science, 6(2), 76-94. Asen, A., Samuel, U.E., Abner, I. P., & Ndubuaku, V. (2020). Security expenditure on economic growth in Nigeria. Humanities & Social Sciences Reviews,8(3), 553-561. https://doi.org/10.18510/hssr.2020.8360 Bawa, J.D., & Pam, M.A. (2025). Oil Revenue Fluctuations and Government Spending in Nigeria. International Journal of Humanities, Art and Social Studies, 10(1), 17-28. https://doi.org/10.5121/ijhas.2025.13103 Bawa, J.D., & Pam, M.A. (2025). Oil revenue fluctuations and government spending in Nigeria. International Journal of Humanities, Arts and Social Studies, 10(1), 17-28 https://airccse.com/ijhas/papers/10125ijhas03.pdf Bouzguenda, I., Alalouch, C., & Fava, N. (2019). Towards smart sustainable cities: A review of the role digital citizen participation could play in advancing social sustainability. Sustainable Cities and Society, 50. https://doi.org/10.1016/j.scs.2019.101627 Childers, D.L., Pickett, S.T.A., Grove, J.M., Ogden, L., & Whitmer, A. (2014). Advancing urban sustainability theory and action: Challenges and opportunities. Landscape and Urban Planning, 125, 320-328. https://doi.org/10.1016/j.landurbanplan.2014.01.022 Coursera (2023). Sustainable cities: 6 ways to build a greener future https://www.coursera.org/articles/sustainable-cities Dauda, M.A.P., & Ewetan, O.O. (2023). Oil revenue and sustainable economic growth in Nigeria: Empirical analysis. International Journal of Energy Economics and Policy 13(4), 150-155. https://doi.org/10.32479/ijeep.14010 Ebhotemhen, W., & Olusola, A.B. (2022). Relationship between Government Expenditure on security and exportation in Nigeria. Gusau International Journal of Management and Social Sciences, 5(2), 133-146. Efenyumi, P.E., & Obaro, I.J. (2025). Effect of forensic auditing on the financial performance of listed firms in the financial service sector of the Nigerian Exchange Group . Journal of Academic Research in Economics, 17(3), 779-804. Ejiogu, A.O., Ejike. R.D., & Ohazurike, E. (2024). Nigeria’s implementation of the sustainable development goals. Qeios, 1-20. https://doi.org/10.32388/R5I131.2 Emah, E.M. (2023). A mid-term review of Nigeria’s progress towards achieving the sustainable development goals. AKSU Journal of Administration and Corporate Governance, 3(3), 35-47. Enel Stories Moving Energy (2024). The 3 pillars of sustainability: environmental, social and economic. https://www.enel.com/company/stories/articles/2023/06/three-pillars- sustainability Gallardo-Vázquez D., Hourneaux, J.F., Dias da Silva, G.M., Valdez-Juárez, L.E. (2021). On Earth as It Is in Heaven: Proxy Measurements to Assess Sustainable Development Goals at Company Level through CSR Indicators. Sustainability,13(2), 1- 20. https://doi.org/10.3390/su13020914 Halim, A., & Rahman, M. (2022). The effect of taxation on SDGs: evidence from emerging countries. Heliyon 8 No.512. http://doi.org/10.106/hepion/2022.e10512 Hanif A. I., Michael K. A., Ramesh C. B., Michael N. G., Venkatta S.S.Y., & Raj N. (2023). Sustainability of power generation for developing economies: A systematic review of power sources mix. Energy Strategy Reviews, 47 https://doi.org/10.1016/j.esr.2023.101085 Itu M. (2024). Corporate social responsibility and sustainable development: A study of shell petroleum development company of Nigeria and Nigeria AGIP. AKSU Journal of Administration and Corporate Governance, 4(1), 46-59. https://doi.org/10.61090/aksujacog.2024.004 Jabir, I. M., Amin, K.V., Ogeh, F., & Joshua, Y.A. (2020). Oil revenues and economic growth in oil-producing countries: The role of domestic financial markets. Resource Policy, 69, 1- 69. http://doi.org/10.1016/j.resourpol.2020.101832 James P. (2015). Urban sustainability in theory and practice: Circles of sustainability. Routledge. https://doi.org/10.4324/9781315765747 Li, Y., Beeton, R.J.S., Zhao, X., Fan, Y., Yang, Q., Li, J., & Ding, L. (2024). Advancing urban sustainability transitions: A framework for understanding urban complexity and enhancing integrative transformations. Humanities & Social Science Communication, 11, 1-14. https://doi.org/10.1057/s41599-024-03598-x Nwakoby, N.P., & Okoye, O. (2021). Tax reforms and non-oil revenue generation in Nigeria:Policy implications for SDG 8. Nigerian Journal of Economic Policy, 24(1), 92- 108 Olena, D., Olena R., Georgy D., & Natalia, G. (2020). Sustainable ecological development of the global economic system: The institutional aspect. Journal of Environmental Management and Tourism, 11(3), 728-740. https://doi.org/10.14505//jemt.v11.3(43).27 Olga A. (2020). People-Smart Sustainable Cities. https://unece.org/sites/default/files/2021- 01/SSC%20nexus_web_opt_ENG_0.pdf Ologunde, I.A., Kapingura, F.M., & Sibanda, K. (2020). Sustainable development and crude oil revenue: A case of selected crude oil-producing African countries. Int. J. Environ. Res. Public Health, 17(18), 67-99. https://doi.org/10.3390/ijerph17186799 Rabiu, B.B., Ibrahim, A., & Ali, J. (2022). Sustainable development goals and poverty reduction in Nigeria: Challenges and prospects. International Journal of Social Sciences and Humanities Reviews, 12(1), 120-126. Salaudeen, Y.M (2024). Taxation and sustainable development goals. Munich Personal RePEc Archive, MPRA Paper No. 123005. https://mpra.ub.uni-muenchen.de/123005 Takeme, J.E., Obiora, A.C., & Ojukwu, U.G. (2025). Revenue allocation frameworks and oil resource governance: A comparative study of Nigeria and the United States of America. Journal of Political Science and Leadership Research, 11(5), 55-74 https://doi.org/10.56201/jpslr..pg55.74 Ubali, C., Okezie, S.O., Alpheaus, O.E., & Ihendinihu, J.U. (2024). Contributions of tax revenue and government expenditure to sustainable development goals in Nigeria. FUDMA Journal of Accounting and Finance Research, 2(3), 138-152. https://doi.org/10.33003/fujafr-2024.v2i3.116.138-152 Zhu, Y., Bashir, S., & Marie, M. (2022). Assessing the relationship between poverty and economic growth: does sustainable development goal can be achieved? Environmental Science and Pollution Research, 29(19), 27613-27623. https://doi.org/10.1007/s11356-021-18240-5

More Articles from JOURNAL OF BUSINESS AND AFRICAN ECONOMY

Monetary Policy Transmission Mechanism and Economic Growth in the West African Monetary Zone, 2000-2025

Author: i, Okolie, Romanus Onyeisi, ii, Emeter Patrick Okechukwu, iii, Aduba Paul Nnamdi, iv, Eneaniofu Daniel Mmaduakonam, v, Okwor Emmanuel Ejimnkonye

Inventory Management and Organisational Performance of Selected Manufacturing Firms in Southwest, Nigeria

Author: Akande, Folashade Adebisi, Ibojo, Bolanle O. PhD, Akinruwa, Temitope E. PhD

Monetary Policy and Performance of Deposit Money Banks in Nigeria

Author: Egbuho, Chika Anthonia, Njoku, Kevin Chinaka. Isukul, Araniyar. Chinedu.