45 Oil Price Fluctuation, Macroeconomic Indicators and Poverty in Nigeria Osmond Chigozie Agu* University of KwaZulu-Natal, School of Accounting, Economics and Finance, College of Law and Management Studies, Pietermaritzburg, South Africa Email: ossydevine@yahoo.com & Phocenah Nyatanga University of KwaZulu-Natal, School of Accounting, Economics and Finance, College of Law and Management Studies, Pietermaritzburg, South Africa Email: Nyatanga@ukzn.ac.za Corresponding Author* Abstract The fluctuations in the oil price over the years have created uncertainties and unsustainability of economic growth, and these have reinforced poverty through several channels, especially in developing economies. This study explored the impact of oil price movement and other macroeconomic indicators on poverty in Nigeria between 1980 and 2018. The Autoregressive Distributed Lag (ARDL) estimating technique was utilized to investigate both the short run and long run impact of oil price fluctuations on the poverty rate in Nigeria. The estimation results show that oil price volatility has a positive and statistically significant effect on poverty rate both in the short run and in the long run. The estimation results also show that interest rates and growth in gross domestic product have a AFFRIKA: Journal of Politics, Economics and Society ISSN: 1998-4936 (Print) ISSN: 2075-6534 (Online) Indexed by IBSS, EBSCO, ProQuest, J-Gate and Sabinet Volume 10, Number 1, March 2020 pp 45-61