THE PERFORMANCE AND BEHAVIOUR OF SHARES IN LISTED UPSTREAM OIL AND GAS FIRMS IN NIGERIA
Eze Chidi Nwauba
Volume 5, Issue 2, June 2025
This study examined the performance and behavior of shares in listed upstream oil and gas firms in Nigeria, utilizing a dataset covering three years (2021-2023). Descriptive statistics revealed key metrics of share performance, while regression and correlation analyses identified significant predictors. Findings indicated that Net Income and Oil Price positively influenced share prices, while EPS and GDP Growth had a negative impact. These results aligned with existing literature but highlighted unique market dynamics in Nigeria. The study contributed to understanding the determinants of share performance, emphasizing firm-specific financial health and macroeconomic factors. Recommendations for investors included focusing on profitability metrics and monitoring oil prices. Policy recommendations for regulators stressed transparency, regulatory stability, and effective macroeconomic management. Future research should explore additional macroeconomic variables and conduct comparative studies with other emerging markets.