stdClass Object
(
    [id] => 16891
    [paper_index] => 202506-07-022890
    [title] => MODERATING EFFECT OF OIL PRICE VOLATILITY ON EXCHANGE RATE IN POST DEREGULATION PERIOD: A NIGERIAN PERSPECTIVE
    [description] => 
    [author] => Dr. Abiodun Oladimeji, Ibrahim Jubril Adabize, Ibrahim Afeeze Asipita
    [googlescholar] => 
    [doi] => https://doi.org/10.36713/epra22890
    [year] => 2025
    [month] => July
    [volume] => 12
    [issue] => 7
    [file] => fm/jpanel/upload/2025/July/202506-07-022890.pdf
    [abstract] => Crude oil is an essential natural resource that boost economic growth, little wonder Nigeria’s recent removal of petroleum subsidy exacerbate manifold economic constraint across various frontiers. Due to these constraints, Nigeria, as petroleum exporting country witnessed unprecedented retardation in economic growth. This paper therefore examines the effect of oil price volatility on exchange rate in Nigeria in a post deregulation period. The study adopts the ex-post factor research design and uses proxies to explain the dependent and independent variables. Data were sourced from secondary sources and the Eviews (8.0) statistical tool was employed in testing. From investigations made, the unit root test shows that exchange rate (EXCHR), oil price (OILP), Inflation rate (INFLR), Foreign direct investment (FDI) and Gross domestic product (GDP) are Integrated in order I(1) considering their t- statistics of (-5.008496, -4.953198, -5.234856, -4.597649 and -7.788585 ) which is higher than their critical values of (-3.004861 ). The study found the existence of cointegration, suggesting that the economic equations will adjust with a speed of 71% (0.71407) in the long run. The ECM result revealed that OILP, INFLR AND GDP are significant predicators of exchange rate given their t- statistics of (8.89414, 1.69577 and 1.17843) which is more than their significant values at 5% (0.005) while FDI has a negative and insignificant relationship with oil prices with t-statistics of -0.03782 at 5% significant level. The study therefore recommends private and public partnership with newly established local refineries for the manufacturing of refined oil; while ensuring transparency and accountability in deregulation activities.
    [keywords] => Exchange rate, Oil prices, Balance of payment, GDP, Inflation Rate, Deregulation.
    [doj] => 2025-07-07
    [hit] => 
    [status] => 
    [award_status] => P
    [orderr] => 1
    [journal_id] => 7
    [googlesearch_link] => 
    [edit_on] => 
    [is_status] => 1
    [journalname] => EPRA International Journal of Economics, Business and Management Studies (EBMS)
    [short_code] => IJHS
    [eissn] => 2347-4378
    [pissn] => 
    [home_page_wrapper] => images/products_image/2.EBMS.png
)
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