The discovery was made by shellbp, at the time the sole concessionaire. This research work, therefore, investigates the impact of nonoil export noil on capital formation and economic growth in nigeria. This means the model is free from serial correlation. This study examines the contribution of non oil export to the growth of the nigerian economy for the period 19852015.
Global integration, nonoil export and economic growth in nigeria. An empirical investigation of oil revenue and economic growth. Besides, the study attempts to query into the general conclusions of many recent studies that oil price fluctuationsmarket disequilibria have no impact on the. Impact of crude oil price volatility on economic growth in. Although no country is immune to such global crises, the over reliance on oil export revenue by nigeria. Oct 05, 2015 abstract the study investigated the impact of non oil exports on nigerian economy during the period of 19862010. Uniprojects aim of providing impact of non oil export on economic growth in nigeria project research material is to reduce the stress of moving from one school library to another all in the name of searching for. The study investigates effect of non oil export on the economic development of nigeria. This call for an empirical analysis and the compelling questions are as follows.
Implication of nonoil exports on nigerias economic growth. This study analyses the effects of real exchange rate behaviour in terms of misalignment and volatility, on the growth of non oil exports in nigeria. Nonoil export and economic growth in nigeria muhammadon. Trade openess and economic growth in nigeria 1981 2009 an. In a similar work by abogan et al 2014 investigated the impact of nonoil export on economic growth in.
Coffee export and banana export has a positive and significant relationship with economic growth. The impact of non oil export on economic growth in nigeria the impact of non oil export on economic growth in nigeria abstractthe essence of this work has been to determine the effect of non oil export on economic growth in nigeria, during the period of 1986 2010. Please, sit back and study the below research material carefully. It employs two alternative measures of real exchange rate misalignment, one based on deviations from purchasing power parity ppp and the other on a model estimate of equilibrium real exchange rate rer. Determinants of nonoil export and economic growth in nigeria. Our result suggest that the positive sign of the coefficient of non oil export, trade openness. Nigeria government revenues 20102019 data 20202022. The study empirically examined the impact of trade openness on economic growth in nigeria. Empirical analysis from the study suggested that oil export revenue had a positively significant effect on growth both in the shortterm oil revenue total expenditure real gdp growth % capital expenditure % of gdp. Dec 20, 2016 it is important to study the relative impact of oil and non oil exports on economic growth in nigeria to ascertain whether the exportation is contributing to our economic growth and per capita income or whether we have just been wasting our resources. Pdf determinants of nonoil export and economic growth.
Jun 19, 2017 both oil and non oil exports have no significant impact on economic growth in nigeria. Before now, agriculture and mining were the primary drivers of nigeria s economy, but. Determine the extent which oil revenue impacted on the economic growth in nigeria. Findings further show that oil price shock and appreciation in the level of exchange rate exert positive impact on real economic growth in nigeria. The study examines the significant role of non oil export product on real economic growth which the previous studies might have ignored and the aggregate non oil exports product data used by. Nigeria has been a monoeconomy for many years, relying solely on crude oil as her major source of revenue. The impact of oil and nonoil exports on the economic growth. There is no significant relationship between the impact of oil and non oil revenue and economic growth of nigeria. The study utilizes secondary data from various sources and covers a period of 1980 to 2014. Closing its 5year activities in nigeria, it recently held a policy dialogue and an award ceremony, in abuja, with a view to encouraging key plays in the non oil export sector to sustain the. Pdf the nigerian economy has for decades precariously leaned on the fragile leg of crude oil. This paper extends the previous empirical studies on the issue.
Can we find evidence to support the non oil export led growth hypothesis in nigeria. An analysis of the impact of petroleum export on economic growth in nigeria includes abstract and chapter one, complete project material available an analysis of the impact of petroleum export on economic growth in nigeria abstract the petroleum industry is a major sustaining sector of the nigeria economy, and should not be neglected because it either directly or indirectly aids. Nigerias nonoil export has a small impact on the revenue just around 8% manufactured good and 92% primary production. Descriptive analysis and empirical evidence from nigeria adeniyi jimmy adedokun abstract. This study investigated the role of oil and nonoil exports on the nigerian economy over the period of 1981 to 2015. Growth effect of export promotion on nonoil output in subsaharan. The result shows that the overall regression was statistically significant at. The effect of nonoil components export on the economic growth in nigeria continue to be debated and tested in order for turning around of the nations economic outlook for the future good, by strengthen nonoil export growth and success and also promote a nonoil export culture. The economy is experiencing a fall in exchange earning, a fall in gdp.
Dec 29, 2011 although large proceeds are obtained from the domestic sales and export of petroleum products, its effect on the growth of the nigeria economy as regards returns and productivity is still questionable, hence there is a need to evaluate the relative impact of oil export on economic growth in nigeria. International trade increases productivity and economic growth through various. In this study, the non oil exports and economic development in nigeria will be examined. The mono economy nature of nigeria and the need to diversify the economy form part of the motivation for the study.
The study employed ordinary least square regression to find out the relationship between trade openness and economic growth. The impact of oil on nigerias economic policy formulation by biodun adedipe, ph. Abstract the essence of this work has been to determine the effect of non oil export on economic growth in nigeria, during the period of 19862010. This paper estimates that 8 percent of the exports and imports of goods by eu. In carrying out this study, secondary data were collected and empirical analysis was made. The study used per capita income as proxy for economic development and expressed it as a function of non oil export volume, trade. Jun 21, 2018 home news oil remains essential for nigerias economic growth, says baru oil remains essential for nigerias economic growth, says baru on june 21, 2018 3. On the other hand, cocoa export was found to have a negative and insignificant effect on economic growth. Nigeria joined the ranks of oil producers in 1958 when its first oil field came on stream producing 5,100 bpd. Impact of nonoil export on economic growth in nigeria. The study investigates the relationship between diversification of non oil export products and economic growth in nigeria from 1981 and 2014. Keywords keywordsexport promotion strategies, nonoil output, growth, gmm, ssa. Table 1 show the percentage contribution of oil and nonoil exports to total export. Impact of government expenditure on economic growth in nigeria.
The essence of this work has been to determine the effect of non oil export on economic growth in nigeria, during the period of 19862010. Pdf contribution of non oil exports to economic growth. Pdf global integration, nonoil export and economic growth in. Nigeria has overtime had majority of its non oil exports dominated by agricultural produce, most especially cocoa and rubber sasore, 2005. The performance of the non oil exports in the past two decades leaves little or nothing to be desired. The finding shows the existence of a positive relationship between gdp and non oil export, consumer price index and exchange rate. The figure is a descriptive comparism of the fund allocated to acgsf and the value of the non oil export. Non oil export was also found to be positively and significantly impacting to economic growth in nigeria proxied by gdp. The nigerian export promotion council nepc headed by mr. Diversification of nonoil export product as a precondition. Does oil export generate revenue in nigerian economy. Ezeudu 2014 notes that recent proactive efforts from the private sector, export processing free zone scheme and nigeria export and import bank. H0 that non oil export has contributed significantly to the economic growth in nigeria.
The value of non oil export follows a similar trend with the value of acgsf. Nigeria unserious about nonoil exports vanguard news. Contribution of non oil exports to economic growth in nigeria 1985. There is a significant relationship between the impact of oil and non oil revenue in economic growth of nigeria. Adedipe associates limited, victoria island, lagos, nigeria. Real exchange rate behaviour and nonoil export growth in nigeria. Usman 2010 carried out a research on non oil export determinant and economic growth in nigeria from 19882008 using multilinear regression. Pdf how important is oil in nigerias economic growth. H1 that non oil export has not contributed significantly to the economic growth of nigeria. Oil and non oil products are major export of nigeria and the proceeds which are received from or after exporting these oil and non oil products in particular is vital to economic growth. Imperatives of nonoil exports to nigerias economic growth. Get free research paper on oil and nonoil export on the economic growth of nigeria 1983 2007project topics and materials in nigeria. Download the full research work in doc editable format.
Empirical analysis on the impact of oil and nonoil. Oct 24, 2016 most nigerians say the only way out of this recession is to increase our non oil exports. Impact of nonoil export on nigerian economy 205848. History of the nigerian petroleum industry oil was discovered in nigeria in 1956 at oloibiri in the niger delta after half a century of exploration.
The oildependence economy, endemic mismanagement and wrong economic reforms of the past decades have kept the country away from achieving any meaningful economic development. The impact of non oil export on economic growth of nigeria. Among the policies used are trade policy import and export policies, monetary policy, exchange rate policy, fiscal policy, market, etc. Ibrahim raheem1 and aminat busari2 abstract in an attempt to test the validity of export led hypothesis, this study examines the linkage between economic growth and non oil export using time series data for nigeria over a period of 19702010. Impact of non oil export on economic growth in nigeria project material. Economic experts have called on the economic team of president muhammadu buhari to encourage active investment in the non oil sector following incessant drop in the global oil prices and the activities of the niger delta avengers that led to reduction in the crude oil production from about 2. These proceeds directly contribute to investment, which in turn constitutes the motor of economic expansion. Impact nonoil export on economic growth of nigeria mensch. Using the augmented production function apf and the endogenous growth model egm, onudugo, ikpe, and anowor 20 examined the impact of non oil exports on economic growth in nigeria using. This study aims at achieving the following objectives. Nonoil export, economic growth, time series econometric model.
Click to read its contents, project topics, free project topics, download complete project materials,mass com project, topics, education project topic, account project topics, business admin project topics, accounting project topics, recent topics, new project topics, business admin project topic, public admin project topics, free. Mar 11, 2020 download complete project material with available chapters 15. Though contrary to wto objective of eliminating all barriers to free trade by the year 2004, the tariffication process is hurting the. This is approved for students in accountancy, business, computer science, economics, engineering, arts. The effects of the recent global economic crises on nigeria s economy have reaffirmed the urgent need for economic diversification in the country. To achieve this objective, multiple regressions were used in analyzing the. To achieve these objectives, multiple regressions were used in analyzing the data. Examine the longrun relationship between oil revenue and economic growth in nigeria. Foreign direct investment, non oil export, and the economic growth in nigeria. Impact of oil price shock and exchange rate volatility on. The paper recommends greater diversification of the economy through investment in key productive sectors of the economy to guard against the vicissitude of oil price shock and exchange rate volatility. During the 1980s, indonesia used its free trade zones strategy to promote.
Apr 03, 2017 the essence of this work has been to determine the effect of non oil export on economic growth in nigeria, during the period of 19862010. This study was carried out against the background of the crucial role non oil export can play as an alternative source of revenue apart from crude oil exports. Foreign reserve also has a positive and significant impact on economic growth. It has been a major concern among researchers to investigate the impact of oil export revenue on economic growth, especially in oil exporting countries. Agricultural export, oil export and economic growth in nigeria. The export of crude oil now constitutes about 96% of total exports. Keywordsagriculture export, oil export, economic growth, cointegration. Oil remains essential for nigerias economic growth, says. The impact of nonoil export on domestic investment in nigeria. Effects of nonoil export on the economic development of nigeria. Published by canadian center of science and education 165. Multiple regressionswere used as a tool for data analysis and the findings revealed that there is a positive and significant relationship between oil price and economic growth.
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