AN EMPIRICAL APPROACH TO THE EFFECT OF NON-OIL EXPORT ON NIGERIAN ECONOMY.

  • Department of Accounting and FinanceGodfrey Okoye University, Enugu.
Crossref Cited-by Linking logo

  • Abstract
  • References
  • Cite This Article as
  • Corresponding Author

This research work focused on the effect of Non-oil Export on Nigerian Economy. Using Ordinary least squares regression technique, two hypotheses were formulated and tested using data spanning from 2004 to 2013. Results showed that non-oil exports have positive significant impact on economic growth of Nigeria and that non-oil exports have positive and significant impact on the value of Nigerian currency. It was recommended however that the export base of Nigeria should be diversified to favour the non-oil sectors to help reduce sector marginalization as this will also help cushion the effect of price shocks in the international oil (crude oil) market.

  1. Edame, G. E. and Efefiom, C. (2013). The trend analysis of oil revenue and oil export in Nigeria. Journal of Business and Management (IOSR-JBM), 10(3), pp. 41-58.
  2. Enoma, A. and Isedu, M. (2011). The Impact of Financial Sector Reforms on Non-Oil Export in Nigeria. Journal of Economics, 2 (2), pp. 112-130
  3. Ningi, S. I. (2013). An analysis of banks financing of non-oil exports in Nigeria. American International Journal of Contemporary Research, 3(1), pp. 85-92.
  4. Olurankinse, F. and Fatukasi, B. (2012). Analysis of the impact of non-oil sector on economic growth, Canadian Social Science, 8(4), pp. 244-248.
  5. Onodugo, V. A., Ikpe, M. &Anowor, O. F. (2013). Non-oil Export and Economic Growth in Nigeria: A Time Series Econometric Model. International Journal of Business Management & Research, 3 (2), pp. 115-124.
  6. Onwualu A. P. (2012). Agricultural sector and national development: focus on value chain approach. 5th Annual lecture, Onitsha chamber of commerce.
  7. Ozurumba, B. A. and Chigbu, E. E. (2013). Non-oil export financing and Nigeria?s economic growth. Interdisciplinary Journal of Contemporary Research in Business, 4(10), pp. 133-148
  8. Raheem, I. and Busari, A. (2013). Non-oil export and economic growth in Nigeria: does methodology matter? Journal of Asian Development Studies, 2(2), pp. 21-34.
  9. Riman, H. B.; Akpan, E. S.; Offiong, A. I., &Ojong, C. M. (2013). Nexus between oil revenue, non-oil export and industrial output in Nigeria: an application of the VAR model. International Journal of Financial Economics, 1(2), pp. 48-60.

[Michael ChukwunaekwuNwafor. (2017); AN EMPIRICAL APPROACH TO THE EFFECT OF NON-OIL EXPORT ON NIGERIAN ECONOMY. Int. J. of Adv. Res. 5 (Jun). 1430-1438] (ISSN 2320-5407). www.journalijar.com

Prince Leje

DOI:

Article DOI: 10.21474/IJAR01/4555      
DOI URL: https://dx.doi.org/10.21474/IJAR01/4555

Download Full Paper

Download PDF No. of Downloads: 62 | No. of Views: 164