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. 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, URL: https://www.ijtsrd.com/papers/ijtsrd46431.pdf Paper URL : https://www.ijtsrd.com/management/strategic-management/46431/growth-strategy-and-performance-of-oil-and-gas-companies-in-nigeria/oyakhire-victor-alaba
International Journal of Trend in Scientific Research and Development (IJTSRD)
Volume 5 Issue 6, September-October 2021 Available Online: www.ijtsrd.com e-ISSN: 2456 – 6470
@ IJTSRD | Unique Paper ID – IJTSRD46431 | Volume – 5 | Issue – 6 | Sep-Oct 2021
Page 461
Growth Strategy and Performance of
Oil and Gas Companies in Nigeria
Oyakhire Victor Alaba, Prof. Akpan L. Patrick
Department of Business Administration, Shaka Polytechnic, Benin City, Edo State, Nigeria
ABSTRACT
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.
KEYWORDS: Growth Strategy, Strategic Expansion, Strategic
Investment, Performance, Market Share and Return on Asset
How to cite this paper: 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