Volume 2 - Issue 2, March - April 2026

This study examines the associate relationship between loan syndication and growth of Nigeria oil and gas industry in between year 1990-2024. The problem of capital and the effectiveness of the syndicated financing on improving sectoral output has been addressed in this study. Specifically, it focuses on the effect of the total value of syndicated loans (VOSL) and the total number of syndicated loans deals (TNSL) on oil and gas sector output (OGSO). The study is anchored on Financial Intermediation Theory, Credit Rationing Theory and Endogenous Growth Theory which generally points to the role of financial institution in mobilising resource, mitigating the constrains of credit and enabling productive investment. Employing ex post facto research design and research philosophy of positivism, the study uses secondary 1/2 time series data, which were collected from the central bank of Nigeria and national bureau of statistics. Data analysis is carried out including descriptive statistics and unit root testing (ADF), co-integration (Johansen) and parsimonious error correction model (ECM) as a way to capture long and short run relations. Findings show that VOSL has a positive but insignificant impact on OGSO while TNSL has a positive and significant impact on OGSO. The long run equilibrium relationship and swift adjustment to deviations is confirmed by the ECM. The study recommends for increasing the number of syndicated loan deals and introducing structured disbursement mechanism to achieve optimal impact with the financial inflows. The results are important in helping explain the role of financial structuring and accessibility in producing output in capital-intensive sectors.

ASHAOLU, Gbenga Peter,"Loan Syndication and The Growth of The Nigeria Oil and Gas Sector" International Journal of Advanced Multidisciplinary Research and Educational Development, V2(2): Page(600-611) Mar-Apr 2026. ISSN: 3107-6513. www.ijamred.com. Published by Scientific and Academic Research Publishing.