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Analysis of the Effect of Non-Oil Export on Economic Growth of Nigeria

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Listed:
  • Hinmikalu, Patrick Olanrewaju

    (Department of Economics, Veritas University Abuja)

  • Dr. Chris AC-Ogbonna

    (Department of Economics, Veritas University Abuja)

Abstract

This work investigated the Impact of non-oil exports on Gross Domestics Product (GDP) of Nigeria. The statement of the problem of the study therefore is, how has the non-oil export sector helped to enhance the economic growth of Nigeria, and the major objective the study is to investigate the effects of Non-oil Export on the economic growth in Nigeria. The work employed Auto Regressive Distributed Lag (ARDL) modeling techniques analysis used in the study. The findings clearly showed that non-oil export from agricultural commodities and products, craft and manufactured products and solid minerals do not have significant effect on economic growth in the short run but does on the long run during the period under investigation and equally reinforced the fact that non-oil exports have a key role to play with regards to promoting economic growth in Nigeria. The study concluded that non-oil export will enhance economic growth in Nigeria and finally recommended that future policy-makers should aim at promoting adequate agricultural commodities and products, craft and manufactured products and solid minerals exports as this will ensure economic growth in the Nigerian Economy.

Suggested Citation

  • Hinmikalu, Patrick Olanrewaju & Dr. Chris AC-Ogbonna, 2024. "Analysis of the Effect of Non-Oil Export on Economic Growth of Nigeria," International Journal of Research and Innovation in Social Science, International Journal of Research and Innovation in Social Science (IJRISS), vol. 8(11), pages 2863-2874, November.
    • Handle: RePEc:bcp:journl:v:8:y:2024:i:11:p:2863-2874
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    References listed on IDEAS

    as
    1. Thomas Palley, 2003. "Pitfalls in the Theory of Growth: An application to the balance of payments constrained growth model," Review of Political Economy, Taylor & Francis Journals, vol. 15(1), pages 75-84.
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