Chapter One — 1.1 Background to the Study

Over the past decade, the relationship between oil price volatility and economic growth has become a subject of considerable debate among scholars and industry practitioners alike, particularly within the context of Selected Fintech Companies in Nigeria where operating conditions differ markedly from more developed markets.

Selected Fintech Companies in Nigeria presents a useful setting for examining this relationship precisely because the conditions there — structural, regulatory, and behavioural — differ from those typically assumed in the broader literature, most of which draws on evidence from more developed economies.

1.2 Statement of the Problem

Despite a growing body of literature on oil price volatility, there remains limited consensus on the precise nature of its relationship with economic growth, particularly within Selected Fintech Companies in Nigeria. Many organizations continue to make decisions about oil price volatility without a clear, evidence-based understanding of how those decisions ultimately affect economic growth. This gap between practice and empirical understanding is the central problem this study seeks to address.

1.3 Objectives of the Study

1. To examine the effect of Oil Price Volatility on economic growth in Selected Fintech Companies in Nigeria.
2. To assess the extent to which oil price volatility influences economic growth within the study area.
3. To identify the challenges associated with oil price volatility in relation to economic growth.
4. To recommend strategies for optimizing oil price volatility in order to improve economic growth.

1.4 Research Questions

1. What is the effect of oil price volatility on economic growth in Selected Fintech Companies in Nigeria?
2. To what extent does oil price volatility influence economic growth within the study area?
3. What challenges are associated with oil price volatility in relation to economic growth?
4. What strategies can be adopted to optimize oil price volatility in order to improve economic growth?

1.5 Significance of the Study

This study is significant to a range of stakeholders. For policymakers and regulators, the findings offer evidence to guide the design of frameworks that support healthier outcomes around economic growth. For managers and practitioners within Selected Fintech Companies in Nigeria, the study provides practical insight into how oil price volatility can be better managed. Finally, it contributes to the academic literature on economics by extending existing knowledge into a specific empirical context, and offers a reference point for future researchers.

1.6 Scope of the Study

The study is limited to an examination of Oil Price Volatility and its relationship with economic growth within the context of Selected Fintech Companies in Nigeria. It reflects a MSc-level scope of analysis and relies on data and perspectives available within that scope; generalizing the findings beyond this specific context should therefore be done with appropriate caution.