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The Relationship Between Non-Oil Exports and Real Gross Domestic Product (Rgdp) in Nigeria: 1986-2015.

By Dr. Adofu Ilemona

Summary

This study examined the relationship between non-Oil exports and economic growth in Nigeria from 1986 to 2015. Secondary data sourced from World Economic Indicators, 2015 was used in this study. A vector Autoregressive Lag model was developed and applied by the authors where the following macroeconomic variables were engaged: Real GDP used as a proxy for economic growth, Non-Oil export (NOEXP), Degree of Economic Openness (DOP), Exchange Rate (EXCH), Real Interest Rate (RIR) as well as Inflation Rate (INF). OLS technique, co-integration technique, and granger causality were employed to analyse the data and the result revealed that, Non-oil export had a positive and significant impact on economic growth in Nigeria in relation to the reviewed period. It was also discovered that there is a unidirectional relationship from real GDP and Degree of Economic Openness (DOP) to Non-oil Export meaning that, RGDP and DOP causes non- oil export but non-oil export does not cause RGDP and DOP.Hence it was recommended that Since non-oil export appeared to be positively correlated with the real gross domestic product, government and her policy makers as well as other important and relevant stake holders are advised to put all hands on deck to draw policies that would promote non-oil export in the country so as to get our export improved.
The Relationship Between Non-Oil Exports and Real Gross Domestic Product (Rgdp) in Nigeria: 1986-2015.
 
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Published: February 2, 2018

Uploaded by: Dr. Adofu Ilemona

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Abstract

This study examined the relationship between non-Oil exports and economic growth in Nigeria from 1986 to 2015. Secondary data sourced from World Economic Indicators, 2015 was used in this study. A vector Autoregressive Lag  model was developed and applied by the authors where the following macroeconomic variables were engaged: Real GDP used as a proxy for economic growth,  Non-Oil export (NOEXP), Degree of Economic Openness (DOP), Exchange Rate (EXCH), Real Interest Rate (RIR) as well as Inflation Rate (INF). OLS technique, co-integration technique, and granger causality were employed to analyse the data and the result revealed that, Non-oil export had a positive and significant impact on economic growth in Nigeria in relation to the reviewed period. It was also discovered that there is a unidirectional relationship from real GDP and Degree of Economic Openness (DOP) to Non-oil Export meaning that, RGDP and DOP causes non- oil export but non-oil export does not cause RGDP and DOP.Hence it was recommended that Since non-oil export appeared to be positively correlated with the real gross domestic product, government and her policy makers as well as other important and relevant stake holders are advised to put all hands on deck to draw policies that would promote non-oil export in the country so as to get our export improved.

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Dr. Adofu Ilemona

Dr. Adofu Ilemona

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