ABSTRACT

This work investigates the impact of non-oil exports to the Nigerian economy. Although various factors have been adduced to Nigeria’s poor economic performance, the major problem has been the economy’s continued excessive reliance on the fortunes from the oil market without any meaningful economic diversification. The dilemma facing the non oil export sector is not only that it is being overshadowed by the oil export trade, but the declining non oil exports and loss of market share in the non-oil trade. The main objective of this study was to investigate the effect of non-oil exports on economic growth in Nigeria. This research work is fundamentally analytical and descriptive as it embraces the use of secondary data using annual data from 1986 to 2015 as published by Central Bank of Nigeria. Multiple regression models was used in analyzing the data obtained from Central Bank Statistical Bulletin. The result of the findings show that manufacturing revenue has a significant effect on economic growth in Nigeria which is positively signed indicating that an increase in manufacturing revenue will increase the economic growth in Nigeria while agricultural revenue has no significant effect on economic growth in Nigeria which means that an increase in agricultural revenue in has no impact on economic growth in Nigeria. The study therefore recommends that the government should endeavor to support various export promotion programmes and institutions. This could be achieved by encouraging financial institutions, both formal and informal, to make loans available at reduced rates of interest for investors as to increase the level of investment in this country.