'93 Achieva Check Oil Light

My son has a '93 Achieva and the check oil light comes on and will flicker periodically. Looking in the manual that came with it, it simply states that the oil light is for oil level. After checking it a couple times the oil level seems fine. Could this be a sensor going bad or something?

I would check the wiring first, cracks or breaks could cause intermitant readings kicking the light on.
If those look good I would replace the sensor.