GLOBAL OIL PRICES AND THE NIGERIAN LABOUR MARKET
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Date
2020
Authors
Ideh, D.A
Olusanya, O.A.
Journal Title
Journal ISSN
Volume Title
Publisher
Lagos State University, Lagos, Nigeria
Abstract
Nigeria is both a major exporter of crude oil and major importer of refined petroleum products with high level of unemployment. Nigeria depends on oil for its revenue and as major input in most industrial sectors. This paper examined the opportunities created by the low global oil prices for improving the Nigerian labour market. The study adopted qualitative research approach. The key findings are that fall in oil price provides negative challenges for Nigerian labour market in the short-run but an opportunity for improved employment generation in the long-run. The study concludes that government should take advantage of the fall in oil price to develop other sectors of the Nigerian economy. The paper has contributed to knowledge by establishing among others, that low oil prices create opportunities for nations to improve the labour market conditions.
Description
Scholarly article
Keywords
Crude Oil , Economy , Labour Market , Nigeria , Research Subject Categories::SOCIAL SCIENCES
Citation
Ideh DA, Olusanya OA (2019). Global oil prices and the Nigerian labour market. LASU Journal of Human Resource Management and Employment Relations (LASUJHRMER), 2(1), 100-109.