Impact Of Non-Oil Exports On Economic Growth In Nigeria

The study examined the impact of non-oil exports on economic growth in Nigeria covering the period 1986-2016. The ex-post factoresearch design was employed. The study estimated a logarithmic multiple regression model using the ordinary least squares (OLS) method. Before model estimation was carried out, the augmented Dickey-Fuller (ADF) unit root test and the Johansen-Juselius cointegration test were first conducted. Findings from the unit root test revealed that time series variables are integrated of order one; indicating that the time series variables are non-stationary at level but became stationary after first differencing. The results of the cointegration test showed that a long-run equilibrium relationship exists between the time series variables. Findings from the estimated regression model showed that the components of non-oil exports considered (i.e., agricultural exports, solid minerals exports and tourism exports) had positive and significant impact on economic growth. Based on these findings, it was recommended that Nigeria’s export development strategy should be re-focused and strengthened to address the supply capacity constraints in the various non-oil export components; and that Nigeria’s overall competitiveness and sustainable development requires diversification away from a narrow range of products and markets, and should intensify its commitment to trade-enhancing reforms that stimulate trade in value added exports in the various non-oil export components.