Abstract

The study assessed the contribution of the non-oil sector to the economic growth in Nigeria between the periods 1981 and 2019. The study employed the ARDL bound test for cointegration to analyze the direction among the variables under review. The results of the analysis revealed that there is a negative and statistically significant relationship between non-oil exports (NOE) and economic growth (RGDP) in Nigeria during the period under investigation in the long-run for Manufacturing (MANX), solid mineral(SOLX) except for Agricultural export (AGRX). There is also a bidirectional causal relationship between non-oil exports and economic growth in Nigeria during the same period. The study, therefore recommended that the Nigerian government and other stakeholders should make a country’s non-oil export commodities more attractive and competitive in the global market which will prompt the demand for Nigeria’s non-oil goods at the international market. 
 Keywords: Non-Oil exports, Economic Growth,

Highlights

  • The debate concerning the role of foreign trade as one of the main determinants of economic growth goes back to the classical economic theories by Adam Smith and David Ricardo (Abou-Strait, 2005)

  • It is thoughtful for one to see a reason why the non-oil export has always been mentioned as a potential source of economic growth with the ability to turn our economy into a world-class economy

  • Ulakpa (2013), analyzed the impact of non-oil exports on Nigerian economy from 1986 to 2010 given the potentially important role non-oil export can play in diversifying Nigerian economy away from crude oil exports, Using multiple regressions, the empirical result from this study showed non-oil export has a significantly positive relationship with Nigerian economic growth

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Summary

Introduction

The debate concerning the role of foreign trade as one of the main determinants of economic growth goes back to the classical economic theories by Adam Smith and David Ricardo (Abou-Strait, 2005). From the foregoing foreign trade especially exports have been seen as a major tool for economic growth and development To this end, the export promotion policy has been prioritized by many countries. It is thoughtful for one to see a reason why the non-oil export has always been mentioned as a potential source of economic growth with the ability to turn our economy into a world-class economy. It is crucial for economic progress and this has informed the idea of export-led growth (Adesoji and Sotubo, 2013)

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