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International Journal of Research in Social Sciences
Year : 2016, Volume : 6, Issue : 11
First page : ( 120) Last page : ( 130)
Online ISSN : 2249-2496.

Petroleum product pricing (PPP) and Job creation in Nigeria 1980 to 2011

Otum Ume Chukwuma*, Frederick Ijeoma Joy**

*Recourse and Environmental Economics, University of Nigeria, Nsukka

**Development Economics, University of Nigeria, Nsukka

Online published on 24 April, 2018.

Abstract

This study investigates the relationship between petroleum product pricing (PPP) and job creation in Nigeria. To achieve the objective of this paper, relevant secondary data were collected from the Central Bank of Nigeria (CBN) and the national bureau of statistics (NBS) from 1980 to 2011. The secondary data collected from the relevant government agencies in Nigeria were analysed with relevant econometric tests of Pearson Correlation and regression. The results show that there exists a strong relationship between job creation and petroleum product pricing. It was also found that changes in the petroleum product price do cause variation in job creation in Nigeria (R2 0.732). On the basis of the empirical analysis, the paper concludes that job creation is one of the most important factors to be considered in petroleum product pricing in Nigeria that affects the economic growth of the country and therefore should be properly managed to reduce the level of evasion by petroleum exploration companies in Nigeria. The paper recommends among others, that the government should ensure growth and development of the rural and small-scale urban sectors by encouraging pricing that will boost economic activities and favour job creation.

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Keywords

Petroleum Product pricing, Job creation, Pearson Correlation and Regression.

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