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Growth Strategy and Performance of Oil and Gas Companies in Nigeria

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Growth Strategy and Performance of Oil and Gas Companies in Nigeria


Oyakhire Victor Alaba | Prof. Akpan L. Patrick



Oyakhire Victor Alaba | Prof. Akpan L. Patrick "Growth Strategy and Performance of Oil and Gas Companies in Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-6, October 2021, pp.461-470, URL: https://www.ijtsrd.com/papers/ijtsrd46431.pdf

Nigerian oil and gas companies are major players in the transformation of the Nigerian economy as well as the growth of the global oil and gas products market, with the aim of promoting the rapid expansion of Nigerian oil and gas companies. The study examined the impact of growth strategy and performance of oil and gas companies in Nigeria (2006 – 2020). The specific objectives were to determine the impact of strategic expansion on market share and the impact of strategic investment on return on asset. The annual financial statements of companies operating at the upstream, downstream, and midstream listed on the Nigerian Stock Exchange were used for this study. The study adopted a panel research survey. Ordinary least squares regression analysis was used to test the effect of the independent variables on the dependent variables. The findings showed that strategic expansion has a positive effect on market share, while strategic investment has a positive impact on return on asset. Therefore, the study recommends that oil and gas companies’ management should take advantage of strategic expansion and strategic investment to increase their market share and return on asset.

Growth Strategy, Strategic Expansion, Strategic Investment, Performance, Market Share and Return on Asset


IJTSRD46431
Volume-5 | Issue-6, October 2021
461-470
IJTSRD | www.ijtsrd.com | E-ISSN 2456-6470
Copyright © 2019 by author(s) and International Journal of Trend in Scientific Research and Development Journal. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (CC BY 4.0) (http://creativecommons.org/licenses/by/4.0)

International Journal of Trend in Scientific Research and Development - IJTSRD having online ISSN 2456-6470. IJTSRD is a leading Open Access, Peer-Reviewed International Journal which provides rapid publication of your research articles and aims to promote the theory and practice along with knowledge sharing between researchers, developers, engineers, students, and practitioners working in and around the world in many areas like Sciences, Technology, Innovation, Engineering, Agriculture, Management and many more and it is recommended by all Universities, review articles and short communications in all subjects. IJTSRD running an International Journal who are proving quality publication of peer reviewed and refereed international journals from diverse fields that emphasizes new research, development and their applications. IJTSRD provides an online access to exchange your research work, technical notes & surveying results among professionals throughout the world in e-journals. IJTSRD is a fastest growing and dynamic professional organization. The aim of this organization is to provide access not only to world class research resources, but through its professionals aim to bring in a significant transformation in the real of open access journals and online publishing.

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