An analysis of the impact of non-oil exports on economic growth: Evidence from Nigeria
The study assessed the contribution of the non-oil sector to the economic growth in Nigeria between the periods 1981 and 2019. The study employed the ARDL bound test for cointegration to analyze the direction among the variables under review. The results of the analysis revealed that there is a negative and statistically significant relationship between non-oil exports (NOE) and economic growth (RGDP) in Nigeria during the period under investigation in the long-run for manufacturing (MANX) and solid mineral (SOLX) except for agricultural export (AGRX). There is also a bidirectional causal relationship between non-oil exports and economic growth in Nigeria during the same period. The study, therefore, recommended that the Nigerian government and other stakeholders should make a country’s non-oil export commodities more attractive and competitive in the global market which will prompt the demand for Nigeria’s non-oil goods at the international market.
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