EFFECT OF NON-OIL EXPORT ON ECONOMIC GROWTH IN NIGERIA

Authors

  • HEZEKIAH OLAWALE PhD Department of Economics, Edo State University, Uzairue. Author
  • OSIGBEMHE EMMANUELLA EMESO Department of Economics, Edo State University, Uzairue. Author

Keywords:

Diversification, Oil Export, Exchange Rate, Growth Rate, Export Promotion

Abstract

The study examined the effect of non-oil export on economic growth in Nigeria using data from 1980 to 2022. It applied the Autoregressive Distributed Lag (ARDL) models and Error Correction Models (ECM) using variables such as Real Gross Domestic Product, Oil Revenue, value of non-oil exports, exchange rate and inflation rate. Results obtained revealed that oil export and inflation rate have significant relationship with Real GDP. A 1% increase in oil exports reduces growth rate by 22% while such increase in inflation rate increases growth rate by 32%. The policy import of this study is that government should promote oil and non-oil export as basis for diversification of the Nigerian Economy.

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Published

30-04-2024

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How to Cite

EFFECT OF NON-OIL EXPORT ON ECONOMIC GROWTH IN NIGERIA. (2024). Journal of African Advancement and Sustainability Studies, 4(2). https://ssaapublications.com/sjaass/article/view/198

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