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Derivation Funds Management and Economic Development of Nigeria: Evidence From Niger Delta States of Nigeria

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  • Cordelia Onyinyechi Omodero
  • Michael Chidiebere Ekwe
  • John Uzoma Ihendinihu

Abstract

Economic Development of any nation depends on the efficient use of available resources and the integrity of people entrusted with the management of those resources. This paper investigated the impact of the Management of derivation funds accruable to Niger Delta States and how it affects Economic Development of Nigeria. The study employed a descriptive research design and made use of Ordinary Least Squares (OLS) technique to test the hypothesis. The time series data used covered a period from 1981 to 2016 and were collected from the Central Bank of Nigeria (CBN) Statistical Bulletins and World Bank reports. The data gathered were on Real Gross Domestic Product (RGDP) which is the dependent variable and Niger Delta States Derivation Funds (NDSDF) as the explanatory variable. The regression result revealed a positive relationship between the RGDP and NDSDF. The study also found evidence that NDSDF has significant positive impact on the RGDP. These findings led to a conclusion that the lack of infrastructures and other physical evidences of Economic Development in the Niger Delta States have been as a result of mismanagement of funds and embezzlement. If the derivation allowance is well utilized the economic well-being of the people in the area will improve and the clamour for resource control will cease.

Suggested Citation

  • Cordelia Onyinyechi Omodero & Michael Chidiebere Ekwe & John Uzoma Ihendinihu, 2018. "Derivation Funds Management and Economic Development of Nigeria: Evidence From Niger Delta States of Nigeria," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 9(2), pages 165-171, April.
    • Handle: RePEc:jfr:ijfr11:v:9:y:2018:i:2:p:165-171
    DOI: 10.5430/ijfr.v9n2p165
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    References listed on IDEAS

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    1. Tarek Tawfik Yousef Alkhateeb & Zafar Ahmad Sultan & Haider Mahmood, 2017. "Oil Revenue, Public Spending, Gross Domestic Product and Employment in Saudi Arabia," International Journal of Energy Economics and Policy, Econjournals, vol. 7(6), pages 27-31.
    2. Luis Julián Álvarez & Isabel Sánchez & Alberto Urtasun, 2017. "The effect of oil price fluctuations on Spanish inflation," Economic Bulletin, Banco de España, issue JUN.
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    Cited by:

    1. Cordelia Onyinyechi Omodero, 2019. "Effect of Apportioned Federal Revenue on Economic Growth: The Nigerian Experience," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 10(4), pages 172-180, July.

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