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Statistical analysis on the yearly production and utilization of crude oil gas in Nigeria
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This project looks at Statistical analysis on the yearly production and utilization of crude oil gas in Nigeria. For the past three decades, crude oil has been a major source of revenue, energy and foreign exchange for the Nigerian Economy. Against this background, this project work analyzes the production and utilization of crude oil in barrels for the last ten years period using multiple regression models. Secondary data were used with the aid of statistical package for social science (SPSS). The regression estimate is derived mathematically as Y2.982- 0.0061+ 4.982 X2+1.193×3+ 2. 250X4 which was used to predict future, using past data, after testing the stated hypothesis, the research findings vividly shows that B2 (which is gas sold to third party) and B4 (Gas for LNG) was significant and the model is adequate meaning the relationship between production and utilization of crude oil.