Journal of
African Studies and Development

  • Abbreviation: J. Afr. Stud. Dev
  • Language: English
  • ISSN: 2141-2189
  • DOI: 10.5897/JASD
  • Start Year: 2009
  • Published Articles: 205

Full Length Research Paper

Natural resources in Africa; a gift or curse: The case of Nigeria

Ahmed S. Abou-Zaid
  • Ahmed S. Abou-Zaid
  • Department of Economics, College of Liberal Arts and Sciences, Eastern Illinois University, 600 Lincoln Avenue, Charleston, IL 61920, United States.
  • Google Scholar
Jamiu Amusa
  • Jamiu Amusa
  • Department of Economics, College of Liberal Arts and Sciences, Eastern Illinois University, 600 Lincoln Avenue, Charleston, IL 61920, United States.
  • Google Scholar
Sami Alabdulwahab
  • Sami Alabdulwahab
  • Economics Department, College of Business Administration, King Faisal University, P. O. Box 400, Al-Hofuf – Al-Hassa 31982, Kingdom of Saudi Arabia.
  • Google Scholar


  •  Received: 24 January 2018
  •  Accepted: 05 November 2020
  •  Published: 31 May 2021

Abstract

This paper examines the link between natural resources wealth, agriculture, oil and economic growth in Nigeria. We use co-integration method to examine the relationship between the economic growth and economic indicators in control in this study. The result shows a significant relationship between economics growth and economic indicators in the long-run. However, the relationship between economics growth and economics indictors does not exist in the short-run. The policy makers in Nigeria should take this result into consideration when they implement a policy. They have to ensure that the policy closes the gap in order to have a positive effect on the economic growth in the short-run and long-run.

 

Key words: Economic growth, co-integration, natural resources.