Nigeria is one of the largest producers of petroleum in the world. The purpose of this research work is to investigate the fluctuation effects of petroleum price change on Nigerian economy and economic stability from the year 2000 to 2024. Regression and correlation methods were used for the analysis. The R-square of 0.982 demonstrated a good fit. Results from regression revealed that as Petroleum price (Y) is increasing so also GDP (X) is increasing, but GDP increase is at low rate. One unit change in the year correspond to 0.001 unit increase rate in GDP and 0.006 unit increase rate in Petroleum price. Petroleum prices were increasing faster than GDP rate of increase. This makes the prices of goods and services go up. Increase in petroleum price could not boast the economy. The Correlation output revealed a positive relationship between the two variables, which indicated that the higher price of petroleum associated high GDP at low rate causing the price of goods and services to go up. Therefore, the GDP increase rate is low from the regression and correlation; this could not boast the economy of the nation. This is due to the petroleum price fluctuations and mismanagement of fund.