Relevance Of Oil And Gas Accounting In The Economic Development Of Nigeria (A Case Study Of Nigerian National Petroleum Corporation)

ABSTRACTS

Relevance of oil and gas accounting in the economic development of Nigeria is the topic of this research. The study is aimed at critically assessing the contribution of efficiency in the accounting system of oil industry towards the Gross Domestic Product of the economy. The study adopted secondary source of data collected from National Bureau of Statistics (NBS) and NNPC publications. The study two hypotheses and Statistical Package for Social Sciences (SPSS) were adopted in the analysis while Pearson product moment correlation coefficient was used to test the hypotheses. At the end of the analysis, the H0were, accepted stating that there is no significant relationship between efficiency in the accounting system of oil industry and GDP. The study the recommended that the organization should continue in their proper accounting system in other to perform effectively and also Government should revive the agricultural sector. This will reduce over dependence on the oil and gas productions well as strengthen the sector (oil and gas) for sound economic development in Nigeria.