Navigating Recovery: The Influence of Post-Pandemic Dynamics on Oil Revenue and the Financial Health of Nigerian Deposit Money Banks

Abstract

This study empirically investigates the spillover effects of post COVID19 on
oil revenue and the performance of deposit money banks in Nigeria using
monthly time series dataset over the period 2019 - 2021. The study employed
autoregressive distributed lag model (ARDL) for the estimation of the
parameters. Results from the study show that there is a negative and
significant association between COVID 19 and oil revenue in Nigeria over the
sample period. The empirical result from the study revealed that there is a
negative and statistically significant relationship between COVID19 and the
performance of deposit money banks in Nigeria throughout the period under
consideration. This implies that the deposit money bank responds negatively
to COVID19 pandemic in the country. Result also revealed a positive and
significant long run relationship between COVID19 and performance of the
deposit money banks in Nigeria. The study recommends among other things
more awareness and preventive measures against COVID19 pandemic so as
enhance oil revenue and the performance of the deposit money banks in
Nigeria.