The paper studied oil revenue and behavior of selected macroeconomic indicators in Nigeria from 1981-2019. The main purpose were interest rate, inflation rate and exchange rate within the time frame. The paper was anchored on the Endogenous growth theory. The study adopted ex-post facto research method while Ordinary Least Square was used to process the data gathered using E-view software. The findings indicates that apart from interest rate, no significance relationship exist between the two other variables study with oil revenue. While the study concludes that inflation rate and exchange rate can be stabilized through effective monetary policy measure. The study therefore recommends diversification and encouragement of more participation of nongovernmental sector in economy development.
Keywords: Inflation Rate, Interest Rate, and oil proceeds., oil boom
