Oil and Gas Revenue, Control of Corruption and Economic Performance in Nigeria

Abstract

The research investigated the short and the long-run effects of oil and gas revenue and control of corruption on economic performance in Nigeria. Auto Regressive Distributed Lags (ARDL) was used in achieving the objective of the study. The short-run model reveals that economic performance is significantly explained by the lags of oil and gas revenue, and control of corruption. However, the long-run model coefficients produced result that is contrary to the a priori expectation, though they are statistically insignificant. This indicated that, oil and gas revenue, and control of corruption promotes economic growth in the short-run while reduces it in long run. The research therefore recommends anticorruption policy of establishing a special court attach to anticorruption agencies in order to mitigate corrupt practices and subsequently improve the standard of living in Nigeria.