@article { author = {Shuaibu, Mohammed and El-Yaqub, Ahmad}, title = {A Closer Look at the Nexus between Oil Price and Non-Oil Revenue in Nigeria}, journal = {Iranian Economic Review}, volume = {}, number = {}, pages = {-}, year = {2022}, publisher = {University of Tehran}, issn = {1026-6542}, eissn = {2588-6096}, doi = {10.22059/ier.2022.88412}, abstract = {This study investigates the effect of oil price variations on non-oil revenue performance in Nigeria which, to our knowledge, has not received adequate empirical scrutiny. This issue is at the forefront of government policy plans which seek to improve non-oil revenue inflows.  Utilizing dynamic time series modelling approach to analyze data from 2010M1 to 2020M12, the findings reveal that oil price dampens non-oil revenue mobilization efforts in the short-run but is positive in the long run. This indicates that the Dutch disease hypothesis holds in the short-run but not in the long run. Also, a depreciation of the exchange rate was found to improve non-oil revenue inflows. Robustness checks using disaggregated non-oil revenue: trade taxes (import duties and levies) and domestic taxes (value-added tax, corporate, and personal income tax) validate the findings. Therefore, policy measures aimed at building up domestic revenue are required to minimize oil revenue dependency.}, keywords = {Keywords: Non-oil Revenue,Dutch Disease,Taxes,Oil Price,Cointegration,Error correction. JEL Classification: H20,H27,O40,C21}, url = {https://ier.ut.ac.ir/article_88412.html}, eprint = {} }