Time Series Analysis On Nigerian Monthly Crude Oil Prices:- Nnanna, Ijeoma G
ABSTRACT
This
project considered the analysis of Nigerian monthly crude oil prices using
BoxJenkins methodology. Monthly data on Nigerian crude oil prices (US$/barrel)
from the period January, 2000 to December, 2013, collected from the CBN
Statistics Database were used for this purpose. The time plot and preliminary
evaluation of the data called for log transformation and first order
differencing of the data to achieve stationarity. Plots of the autocorrelation
function (ACF) and partial autocorrelation function (PACF) of the transformed
and differenced series suggested that ARIMA (1, 1, 1) be fitted to the data..
The ACF and PACF ofthe residuals from the fitted model behaved like those of a
while noise process. These confirmed the adequacy of the fitted model. The
model was then used to forecast Nigerian monthly crude oil prices for the
period January', 2014 to July, 2014.
0.0
IJEOMA, G (2025). Time Series Analysis On Nigerian Monthly Crude Oil Prices:- Nnanna, Ijeoma G. Repository.mouau.edu.ng: Retrieved Mar 13, 2025, from https://repository.mouau.edu.ng/work/view/time-series-analysis-on-nigerian-monthly-crude-oil-prices-nnanna-ijeoma-g-7-2
GLADYS, IJEOMA. "Time Series Analysis On Nigerian Monthly Crude Oil Prices:- Nnanna, Ijeoma G" Repository.mouau.edu.ng. Repository.mouau.edu.ng, 13 Mar. 2025, https://repository.mouau.edu.ng/work/view/time-series-analysis-on-nigerian-monthly-crude-oil-prices-nnanna-ijeoma-g-7-2. Accessed 13 Mar. 2025.
GLADYS, IJEOMA. "Time Series Analysis On Nigerian Monthly Crude Oil Prices:- Nnanna, Ijeoma G". Repository.mouau.edu.ng, Repository.mouau.edu.ng, 13 Mar. 2025. Web. 13 Mar. 2025. < https://repository.mouau.edu.ng/work/view/time-series-analysis-on-nigerian-monthly-crude-oil-prices-nnanna-ijeoma-g-7-2 >.
GLADYS, IJEOMA. "Time Series Analysis On Nigerian Monthly Crude Oil Prices:- Nnanna, Ijeoma G" Repository.mouau.edu.ng (2025). Accessed 13 Mar. 2025. https://repository.mouau.edu.ng/work/view/time-series-analysis-on-nigerian-monthly-crude-oil-prices-nnanna-ijeoma-g-7-2