Index Number Analysis On The Price Of Petroleum On The Price Of Food Items

TITLE PAGE (1999-2013) CHAPTER ONE INTRODUCTION 1.1.    Background of the study The effect of prices of petroleum products on food items and the economy of Nigeria cannot be over emphasized.Petroleum products range from aviation fuel to kerosene just to mention a few, this is solely due to the lack of diversification of the economy. 85% of Nigeria gross domestic product (GDP) is being accounted for by the petroleum sector (Mahmud 2009). Before the discovery of crude oil in the early 70’s, agriculture was the main driver of the economy which has helped in the country’s devel…