The combined effects of retail energy prices, and exchange rates on inflation in Nigeria States
Nenubari John Ikue · John Sodipo · Charlse Oraemesi · Linus Enegesi ORCID ↗ · Daniel Yisa ORCID ↗ · Victor Anthony ORCID ↗ · Chinenye Nna
Bussecon Review of Social Sciences · 2024 · Vol. 6 / Issue 1 · 14-28
Publication metrics
External links open provider records or DOI searches. Provider counts are not combined. Mendeley readership measures saves, not citations.
Dimensions
Live provider badge. If unavailable, use the Dimensions link above.
Observed 21 Oct 2026, 00:01 UTC
Observed 21 Oct 2026 00:01 UTC
OpenAlex and Mendeley observations refresh on article visits, at most once per 24 hours. Unavailable data is not zero. Google Scholar opens a DOI search.
Citations received by this article, grouped by the year of the citing work. Crossref and OpenAlex lifetime totals remain separate in Publication metrics.
2017–2026 Annual history last updated:
Citations received
OpenAlex · year of the citing work
Hover over a year or focus the chart and use arrow keys to inspect values.
2017–2026 annual-history window. 2026 is year to date. Unknown years have gaps.
View data & coverage
2026 is incomplete. Within a successfully fetched ten-year window, omitted years mean zero. Years beyond a saved observation’s window remain unknown (—). Older citations are excluded, so this chart’s sum may differ from the OpenAlex lifetime total. The date above belongs to this annual history; an unsuccessful refresh keeps the previous observation.
Abstract
This paper explores the nonlinear dynamics relationship between petroleum product prices and inflation in Nigeria. By focusing on the role of exchange rate fluctuations in amplifying the relationships, the paper employs a multiplicative interaction approach to address the nonlinear effects of petroleum prices on inflation. Utilizing data from 2016: Q1 to 2024: Q2 from the National Bureau of Statistics and the Central Bank of Nigeria, the study introduces interaction terms to capture how petroleum prices and exchange rates interact to influence inflation. The methodology includes static and dynamic panel estimators, with a focus on the within effect model to account for unobserved state-specific factors. Key findings reveal that AGO and PMS prices significantly drive both headline and food inflation, while DPK's impact varies, and GAS shows minimal effect. The study highlights those geographical factors—proximity to seaports and fuel depots—significantly influence inflationary pressures. States closer to these facilities experience lower inflation due to reduced distribution costs. This suggests that policies aimed at partial subsidization for states farther from key infrastructure could mitigate regional inflation disparities. The findings contribute to the understanding of inflation dynamics, emphasizing the need for targeted policy interventions tailored to regional economic conditions in Nigeria.
Keywords: {'name': 'Nonlinear dynamics, Retail energy prices, Exchange rate fluctuations, Regional inflation disparities, Multiplicative Models'}
Authors & affiliations
Nenubari John Ikue
Affiliation not supplied
John Sodipo
Affiliation not supplied
Charlse Oraemesi
Affiliation not supplied
Linus Enegesi
Affiliation not supplied
Daniel Yisa
Affiliation not supplied
Victor Anthony
Affiliation not supplied
Chinenye Nna
Affiliation not supplied
Deposited references
Supplied references, not a list of publications citing this article.
No reference list supplied.