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| Title: | Investigating the Effects of Increase in the Oil Prices on Manufacturing Companies in Nigeria |
| Authors: | Bolaji, Bukola Olalekan
Bolaji, G.A. |
| Keywords: | Oil prices
Petroleum products
Manufacturing companies |
| Issue Date: | 2010 |
| Publisher: | Pacific Journal of Sciences, and Technology, Published by the Akamai University USA |
| Series/Report no.: | Volume 11;No. 2, pp. 387-390 |
| Abstract: | This paper investigates the effects of increase in oil prices on manufacturing companies in Nigeria. Various types of petroleum products consumed in various manufacturing companies were analyzed. The results of the findings showed that 64% of the companies consume diesel more than other products, 24% of the companies consume petrol, while 8% and 4% of the companies consume lubricating oil and kerosene more than other products, respectively. The results obtained revealed that increment in the prices of petroleum products affects the cost and quantity of raw materials, reduces production capacity of some companies, it reduces the market demand of products causing a reduction in profit or rate of turnover. Finally, various measures that could be taken by Government to cushion the effect of increase in the oil prices on companies were suggested |
| URI: | http://repository.fuoye.edu.ng/handle/123456789/1226 |
| Appears in Collections: | Mechanical Journal Publications
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