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Abstract In this study, the nexus between the generated oil revenue in Nigeria from 1981 to 2021 and its possible influences on the relative growth of the economy on a sustainable basis has been investigated. Utilizing the Johansen Co-Integration test, Granger Causality Technique as well as the Error Corrections Mechanism (ECM) to analyze the sourced data from both the World Development Indicators and the Nigeria Centra Bank. The findings depict the occurrence of a long-run connection amongst the variables of the study as both the eigenvalue test and trace test depict two and three cointegrating equations respectively at a 5% level of significance. 34.8% of short-run errors are rectified annually, according to the error correction mechanism. As a result, the coefficient reflects the rate of adjustment at which the RGDP's short and long runs are tied together. Further findings reveal that economic growth (RGDP) granger caused oil revenue (OREV) and that the generated oil revenue in Nigeria (OREV) granger caused economic growth (RGDP) during the study period. This suggests that the generated oil revenue in Nigeria (OREV) and economic growth (RGDP) relationship is causally bidirectional. This study, therefore, recommends the creation and efficient implementation of policies that facilitate prudent identification, collection and utilization of the generated oil income and adequate deployment to critical underdeveloped and developing sectors of the economy. Downloads Download data is not yet available. Downloads FULL TEXT Published 2023-07-09 How to Cite Dauda, M., Alege, P. O., Ewetan, O. O., & Asemota, F. F. (2023). Oil Revenue and Sustainable Economic Growth in Nigeria: Empirical Analysis. International Journal of Energy Economics and Policy, 13(4), 150–155. https://doi.org/10.32479/ijeep.14010 More Citation Formats ACM ACS APA ABNT Chicago Harvard IEEE MLA Turabian Vancouver Download Citation Endnote/Zotero/Mendeley (RIS) BibTeX Issue Vol. 13 No. 4 (2023) Section Articles License Submission of an article implies that the work described has not been published previously , that it is not under consideration for publication elsewhere, that its publication is approved by all authors and tacitly or explicitly by the responsible authorities where the work was carried out, and that, if accepted, will not be published elsewhere in the same form, without the written consent of the Publisher. The Editors reserve the right to edit or otherwise alter all contributions, but authors will receive proofs for approval before publication. Most read articles by the same author(s) Mercy Toluwase Ayodele, Philip O. Alege, Oil Price Volatility and Renewable Energy Consumption in Nigeria , International Journal of Energy Economics and Policy: Vol. 11 No. 4 (2021) Philip O. Alege, Oluwasogo S. Adediran, Adeyemi A. Ogundipe, Pollutant Emissions, Energy Consumption and Economic Growth in Nigeria: A Multivariate Granger Causality Framework , International Journal of Energy Economics and Policy: Vol. 6 No. 2 (2016) Opeyemi E. Akinyemi, Evans S. Osabuohien, Philip O. Alege, Adeyemi A. Ogundipe, Energy Security, Trade and Transition to Green Economy in Africa , International Journal of Energy Economics and Policy: Vol. 7 No. 3 (2017) Sherifatu O. Onayemi, Philip A. Olomola, Philip O. Alege, Oluwakemi O. Onayemi, Foreign Direct Investment, Electricity Power Supply and Economic Growth in Nigeria , International Journal of Energy Economics and Policy: Vol. 10 No. 5 (2020) Philip O. Alege, Queen-Esther Oye, Omobola O. Adu, Barnabas Amu, Tolu Owolabi, Carbon Emissions and the Business Cycle in Nigeria , International Journal of Energy Economics and Policy: Vol. 7 No. 5 (2017) Opeyemi Akinyemi, Philip O. Alege, Oluseyi. O. Ajayi, Lloyd Amaghionyeodiwe, Adeyemi Ogundipe, Fuel Subsidy Reform and Environmental Quality in Nigeria , International Journal of Energy Economics and Policy: Vol. 5 No. 2 (2015) Similar Articles Olanike Bosede Awoyemi, Divine Amarachi Nwibe, A Causal Assessment of Nigeria’s Crude Oil Revenue, Health Expenditure, and Economic Growth , International Journal of Energy Economics and Policy: Vol. 12 No. 5 (2022) Adegbola Olubukola Otekunrin, Samuel Adeniran Fakile, Damilola Felix Eluyela, Ademola Andrew Onabote, Okoye Nonso John, Sarah Ifeanyichukwu, Impact of Oil and Non-oil Tax Revenue on Economic Growth in Nigeria , International Journal of Energy Economics and Policy: Vol. 13 No. 2 (2023) Umar Tijjani Babuga, Niaz Ahmad Mohd Naseem, Oil Price Change and Economic Growth: Evidence from Net Sub-Saharan Africa Oil Exporting Countries , International Journal of Energy Economics and Policy: Vol. 12 No. 2 (2022)

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