Impact Of Non-Oil Export On Nigerian Economic Growth (1990 – 2016)

ABSTRACT

The study examined the impact of non-oil export on Nigerian economic growth using annual time series data from 1990-2016. The data was sourced from the central bank of Nigeria statistical bulletin and world trade organization bulletins. The study was analyzed using multiple regression analysis. The findings revealed that the manufacturing export components and the agricultural export components had a positive and significant impact on the economic growth of Nigeria, while the solid minerals sector and the services sector components had negative and insignificant impact on the economic growth of Nigeria. Based on the findings, the study recommended that technologies required in transforming raw materials to finished goods be acquired so as to stimulate the level of manufacturing output towards higher exportation, it also stated that local farmers should be empowered with modern technologies that can facilitate greater productivity. The study also recommended that government should intensify effort in the solid mineral resources areas so that their impact will contribute to the non-oil export in Nigeria since 90% of Nigeria solid minerals are untapped and also give equal attention to the service sector.

TABLE OF CONTENTS

Title Page ﾿ i

Declaration ﾿ ii

Certification ﾿ iii

Dedication ﾿ iv

Acknowledgement ﾿ v

Table of Contents ﾿ vi

Lists of Tables ﾿ vii

Abstract ﾿ viii

CHAPTER ONE

1.0 Introduction ﾿ 1

1.1 Background to the Study ﾿ 1

1.2 Statement of the Problem ﾿ 4

1.3 Objective of the Study ﾿ 5

1.4 Research Questions ﾿ 5

1.5 Statement of Hypotheses ﾿ 6

1.6 Significance of the Study ﾿ 6

1.7 Scope of the Study ﾿           7

1.8 Definition of terms ﾿           7

CHAPTER TWO

2.0 Literature Review ﾿ 9

2.1 Conceptual Framework ﾿ 9

2.1.1The Non-oil Export Components ﾿ 9

2.1.2 Importance of Non-oil sector ﾿                    9

2.1.3 Problems of Non-oil Export Sector ﾿ 13

2.1.4 Recommendation for Improving the Non-oil Export performance ﾿ 15

2.1.5 Government Policies to Promote Non-oil Export                                16

2. 6   Institutional Arrangement ﾿           16

2.2   Theoretical Review ﾿                              19 ﾿

2.2.1 ﾿ Mercantilist theory ﾿ 19 ﾿

2.2.2 Theory of Absolute Advantage ﾿ 19

2.2.3 ﾿ Theory of Comparative Advantage ﾿           21

2.2.4 ﾿ Endogenous Growth Theory ﾿ 21

2.2.5 Heckscher Ohlin theory of factor endowment ﾿ 22

2.3 Empirical Review ﾿ 23

CHAPTER THREE

3.0 Research Methodology ﾿ 27

3.1Research Design ﾿ 27

3.2 Nature and Sources of Data ﾿ 27

3.3 Population of Study and Sample Size ﾿           27

3.4 Research Area ﾿           27

3.5 Model Specification                                                                              28

3.5 Description of Research Variables ﾿ 29

3.5.1.1 Dependent variable ﾿ 29

3.5.1.2 Independent variables ﾿                    29 

3.6 Analytical Technique ﾿ 30

CHAPTER FOUR

4.0 Presentation of Data, Analysis and Discussion of Results ﾿ 31

4.1 Presentation of Data ﾿ 31

4.2 Descriptive Statistic ﾿ 32

4.3 Regression Analysis ﾿ 33

4.4 Hypotheses testing ﾿ 34

4.5 Discussion of Findings ﾿ 35

CHAPTER FIVE

5.0 Summary of Findings, Conclusions and Recommendations ﾿ 36

5.1 Summary of Findings ﾿ 36

5.2 Conclusion ﾿ 36

5.3 Recommendations ﾿ 37

References ﾿ 38

Appendix ﾿ 41