Abstract
The paper sets out to examine the impact of trade policy on Nigeria non-oil exports. It specifically seeks to ascertain the effect of trade policies on non-oil exports in Nigeria as well as the performance of the non-oil export sector over the period 1970 to 2010. Nigeria’s data set from the CBN statistical bulletin volume 18, (2009) and the American reserve bank during the period 1970 to 2010 were used. It employed both correlation analysis and least squares techniques to test the effect of trade policies on non-oil exports in Nigeria. The findings show that there is a negative relationship between trade policies and the non-oil sector in Nigeria. Based on the findings, it was recommended that the nation should diversify rather than concentrating on the oil sector. Key words: Trade policy, non-oil exports, import substitution.
Highlights
Nigeria is endowed with various kinds of resources needed to place her amongst the top emerging economies of the world
The paper sets out to examine the impact of trade policy on Nigeria non-oil exports
The findings show that there is a negative relationship between trade policies and the non-oil sector in Nigeria
Summary
Nigeria is endowed with various kinds of resources needed to place her amongst the top emerging economies of the world. An appraisal of Nigeria ‘s export promotion policy indicates that there is the need to review aspects relating to non-oil exports so as to harness the vast potential hithertolargely underutilised in that critical sector. Nigeria has applied several measures of trade protections as a means of consolidating her trading position These trade policies have to some extent impacted on the performance of the Nigeria non-oil export (Appendix 2). The aim of this study is to critically analyze the effect of trade policies on non-oil exports in Nigeria over the period 1970 to 2008. The scope of the study is limited to the financial years between 1970 and 2010 It is concerned mainly with the trade policies and the determinants of non-export and various factors affecting import in Nigeria within those periods. It discusses the methodology and other relevant issues while results presentation and analysis as well as concluding remarks are addressed in the concluding part respectively
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