Artificial Intelligence Solution, Oil Theft Reduction, and Crude Oil Revenue: Nigeria’s Experience

Purpose-The study aimed to investigate the impact of artificial intelligence (AI) solutions on oil theft and crude oil revenue in Nigeria. Design/Methodology/Approach- The study used an ex post facto research design, collecting data from the Nigerian National Petroleum Corporation (NNPC) and the Central Bank Statistical Bulletin from 2020 to 2023. Purposive sampling was employed, and EViews version 12 was used for data analysis. The study used 2020 to 2023 data because the AI solutions were introduced by NNPC in 2020 to monitor oil theft in Nigeria. Findings-The findings revealed that AI solutions have a positive and significant effect on crude oil revenue in Nigeria. Additionally, oil theft was found to have a positive and significant impact on crude oil revenue. Limitations and Research Implications- The findings of this study may be limited by the data range and geographical focus. Future research could explore other regions or extend the data range. Practical Implications- The study’s recommendations can inform policymakers and stakeholders on how to effectively implement AI solutions, strengthen financial control, and establish an effective legal system to combat oil theft. Originality/Value- This study contributes to the existing literature on AI solutions in the oil industry, highlighting their impact on crude oil revenue in Nigeria. The AI solutions contributed to a reduction in crude oil theft, which improved crude oil revenue for Nigeria.