The impact of oil and nonoil exports on the economic growth of nigeria 1983 2007, free undergraduate project topics, research materials, education project topics, economics project topics, computer science project topics, hire a data analyst. The impact of nonoil export on domestic investment in nigeria. The result provides new insights into the oil curse phenomenon in nigeria. Impact of nonoil export on economic growth in nigeria. This paper extends the previous empirical studies on the issue. The economy is experiencing a fall in exchange earning, a fall in gdp. The relationship between nonoil trade and gdp in petroleum. Government policies on nonoil export agriculture on the economic growth of nigeria, largest undergraduate projects repository, research works and materials.
An empirical analysis on the relationship between non oil exports and economic growth in nigeria, international journal of academic research in business and social sciences, human resource management academic research society, international journal of academic research in business and social sciences, vol. Determinants of nonoil export and economic growth in nigeria. D, hcib department of accountingfinance, faculty of management and social sciences, godfrey okoye university, enugu abstract. The study investigates the relationship between diversification of nonoil export products and economic growth in nigeria from 1981 and 2014. Impact nonoil export on economic growth of nigeria mensch mind. Nonoil export determinant and economic growth in nigeria european journal of business and management vol. Mar 11, 2020 download complete project material with available chapters 15. Pdf contribution of non oil exports to economic growth.
The export of crude oil now constitutes about 96% of total exports. This study investigates the specific impact of the nonoil exports to the growth of nigerian economy using data between 1981 and 2012 the study adopted the. This paper tries to examine the impact of non oil export on economic growth in nigeria. A time series econometric model 117 income per capita is better achieved under export promotion policy. Exports have been described as catalysts for overall development and increase the earnings of the country thereby creating an avenue for growth by raising the national income of the country.
Although no country is immune to such global crises, the over reliance on oil export revenue by nigeria. In other words, the type of products oil and nonoil that nigeria exports to other countries of the world really matters for the growth of nigerian economy. This paper investigates the causal relationship between nonoil international trade and the gdp in a panel of 11 selected oil exporting. Global integration, nonoil export and economic growth in nigeria. Growth effect of export promotion on nonoil output in subsaharan. Olayiwola, kolawole and okodua, henry 20 foreign direct investment, nonoil exports, and economic growth in nigeria. Therefore, using annual data from 1970 to 2015, oil revenue export is found to positively and significantly contribute to economic growth throughout the period of study. Many economic theorists see nigeria oil export as the engine of the economic growth and development, in the argument, demonstrating the direct effects of crude oil exports on the economy. Obviously, since the post independence era, the growth of nigerias nonoil export has been sluggish falling from about 40% in 1979 to 5% in 2010 john and ogege 2010. Impact of nonoil export on economic growth in nigeria project material.
Using the method of content analysis, it emphasizes the huge opportunities and advantages that are available in nonoil exports sector. 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. Nigeria has recorded a significant rise in its nonoil export, with agricultural goods increasing the countrys foreign exchange earnings. Download complete project material with available chapters 15. With the imminent government transition, it is fitting to discuss how these sectors can help the agenda for structural transformation of. The study used per capita income as proxy for economic development and expressed it as a function of nonoil export volume, trade. Nonoil export, economic growth, time series econometric model, impact analysis. Effects of oil export revenue on economic growth in. Get free research paper on oil and nonoil export on the economic growth of nigeria 1983 2007project topics and materials in nigeria. Jun 19, 2017 the broad objective of this study is to investigate the impact of oil and non oil exports on economic growth in nigeria. Available evidence in nigeria supports that the bulk of fdi inflow into the country goes to the oil sector of the economy.
The basic objective of the study is to examine the contribution of fdi to the performance of non oil export in nigeria, within the framework of elg hypothesis. This study is prompted by fewness of studies on the impact of energy shocks on economic growth of oilexporting countries like nigeria, unlike studies on oilimporting countries olomola and adejumo, 2006. Nigerians and the leadership are now awakened to the inevitability of non oil export for survival and sustainable development. Crude oil export has continued to account for over 80% of the total federal government revenue, while the remaining 20% is contributed by nonoil. Download undergraduate projects topics and materials accounting, economics, education. An empirical analysis on the relationship between nonoil. H0 that non oil export has contributed significantly to the economic growth in nigeria. Contribution of non oil exports to economic growth in nigeria 1985. Variables of interest were gdp as proxy for economic growth, nonoil exports, openness as proxy for technological advancement, oil exports and exchange rate variables. Meanwhile, sales fell sharply for agricultural goods 38.
The results show that non oil export has a positive impact on economic growth suggesting that policies formulated towards improving the export of non oil commodities in nigeria will directly boost output growth of other sectors such as agriculture, manufacturing, services etc. The current statistics indicate that the nonoil sector revenue is. The findings also reveal a unicausal link from export to growth in nigeria, thereby, supporting the exportled growth hypothesis. Pdf determinants of nonoil export and economic growth. The essence of this work has been to determine the effect of nonoil export on economic growth in nigeria, during the period of 19862010. H1 that nonoil export has not contributed significantly to the economic growth of nigeria. A study of agricultural and mineral resources exports have been described as catalysts for overall development and increase the earnings of the country thereby creating an avenue for growth by raising the national income of the country. H0 that nonoil export has contributed significantly to the economic growth in nigeria. Therefore, this research examines the impact of aggregate nonoil sector and its determinant. 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 nonoil export sector to sustain the. There is no significant relationship between the impact of oil and nonoil revenue and economic growth of nigeria. There is a significant relationship between the impact of oil and nonoil revenue in economic growth of nigeria. Nonoil export and economic growth in nigeria muhammadon. Effects of nonoil export on the economic development of nigeria.
The importance, effect, causes, relationship, comparison, history, role, solutions are discussed. In carrying out this study, secondary data were collected and empirical analysis was made. Introduction as one of the most efficient tools for growth and development, export promotion policy has been. A simultaneous equations approach majallat dirst alkhal. 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. Foreign direct investment, nonoil export, and the economic growth in nigeria. The broad objective of this study is to investigate the impact of oil and nonoil exports on economic growth in nigeria. Although no country is immune to such global crises, the over reliance on oil export revenue by nigeria expose her economy excessively to external shocks. Nigeria gdp annual growth rate 19822019 data 20202022. The impact of oil and nonoil exports on the economic. The policy implication of this finding is that failure on the part of policy makers to increase nonoil exports will directly hurt the economy of nigeria.
Corona virus new blow to economy growth expected to drop from 3. Pdf the nigerian economy has for decades precariously leaned on the fragile leg of crude oil. In other words, the type of products oil and non oil that nigeria exports to other countries of the world really matters for the growth of nigerian economy. Foreign direct investment, non oil export, and the economic growth in nigeria. Nonoil exports do not contribute to nigerias gross domestic product. The study analyzed the relationship between nonoil sector and economic growth from 1980 2012 and data was derived from central bank of nigerias statistical bulletin cbn and world development indicators 20. Are there any causal relationships or what are the dynamic interactions among non oil exports, fdi, and economic growth in nigeria. Nonoil export, economic growth, nigeria, disaggregated analysis. The study examines the contribution of foreign direct investment fdi to the performance of nonoil exports in nigeria within the framework of the exportled growth elg hypothesis. D department of accounting, banking and finance faculty of management sciences delta state university, abraka delta state, nigeria. Oil accounts for over 90 percent total of export in nigeria, while nonoil account for less than 10 percent totals of export.
Policies aimed at boosting the level and significance of the nonoil export were proposed. 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. Impact of gov ernment expenditure on economic growth in nigeria. Nigerians and the leadership are now awakened to the inevitability of nonoil export for survival and sustainable development. An empirical analysis on the relationship between non oil. The mono economy nature of nigeria and the need to diversify the economy form part of the motivation for the study.
The effects of the recent global economic crises on nigerias economy have reaffirmed the urgent need for economic diversification in the country. Time series analysis of nonoil export demand and economic. 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. From the perspective of efficiencyseeking fdi, foreign capital always aims at taking. Analysis of the effects of oil and nonoil export on economic. According to history, it was shown that crude oil export is crucial to the development. The impact of nonoil 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. The study used per capita income as proxy for economic development and expressed it as a function of non oil export volume, trade. The effects of the recent global economic crises on nigeria s economy have reaffirmed the urgent need for economic diversification in the country. Nedp was set up to mobilize 100,000 small scale exporters and service providers to assist the government in its quest to diversify the nigerian economy from overdependence on oil. This study examines the contribution of non oil export to the growth of the nigerian economy for the period 19852015. This study examines the contribution of non oil export to the growth of the nigerian economy for the period. Nexim bank has a range of tools, including credit financing in both local and foreign currencies, riskbearing services in the form of export credit guarantee and export credit insurance facilities, special funds, loans for foreign. Impact of non oil export on economic growth in nigeria project material.
The study investigates effect of nonoil export on the economic development of nigeria. Effects of nonoil export on the economic development of. The impact of nonoil export on economic growth of nigeria. Uniprojects aim of providing impact of nonoil 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. In a similar work by abogan et al 2014 investigated the impact of nonoil export on economic growth in. The study investigates effect of non oil export on the economic development of nigeria.
To determine the relative impact of oil and non oil exports on. Abstract the essence of this work has been to determine the effect of nonoil export on economic growth in nigeria, during the period of 19862010. H1 that non oil export has not contributed significantly to the economic growth of nigeria. The classical economists like adam smith and david ricardo have argued that international trade is the main source of economic growth and more economic gain is attained from specialization.
Asanebi 2007 in his study on the relationship between nonoil exports and economic growth in nigeria using linear correlation co efficient analysis, observed that the performance of non. Analysis of the effects of oil and nonoil export on economic growth in nigeria. Drawing from the empirical investigation into the impact of oil export on economic growth in nigeria using rgdp as the dependent variable and labour, capital domestic consumption, oil export and total production as independent variables from 1970 2006, it emerged from the study that there is significant relationship between labour, domestic. Diversification of nonoil export product as a precondition. 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. Exports from nigeria soared 48 percent yearonyear to ngn 1,396 million in december of 2019, driven by shipments of manufactured products 1180 percent and crude oil 14.
Pdf global integration, nonoil export and economic growth in. This page provides nigeria gdp annual growth rate actual values, historical data, forecast, chart, statistics, economic. The nigerian export import bank is statutorily mandated to facilitate the countrys nonoil export growth. To determine the relative impact of oil and nonoil exports on. Empirically, nigeria s economy is found to be a resource dependent economy. Obviously, since the post independence era, the growth of nigerias nonoil export has been sluggish falling from. Mar 22, 2020 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.
This will catalyse the nonoil sector output to export levels for the betterment of the nigerian economy. Download the full research work in doc editable format. To achieve these objectives, multiple regressions were used in analyzing the data. Role of non oil exports in the economic growth of nigeria. On his export demand model, iyola 1995 highlights the powerful effect of foreign trade on economic growth though he used crude oil exports only. The impact of exchange rate on nigeria nonoil exports. Effects of oil export revenue on economic growth in nigeria. It was the strongest expansion since the third quarter of 2015, mainly driven by the oil sector 6. Empirically, nigerias economy is found to be a resource dependent economy. This is approved for students in accountancy, business, computer science, economics, engineering, arts. Keywords keywordsexport promotion strategies, nonoil output, growth, gmm, ssa. Pdf nonoil exports in the economic growth of nigeria.
Impact nonoil export on economic growth of nigeria mensch. Dec 29, 2011 drawing from the empirical investigation into the impact of oil export on economic growth in nigeria using rgdp as the dependent variable and labour, capital domestic consumption, oil export and total production as independent variables from 1970 2006, it emerged from the study that there is significant relationship between labour, domestic. 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. 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. Please, sit back and study the below research material carefully. Determinants of nonoil export and economic growth in. The result reveals a significant effect of nonoil export on economic growth in both the long and short run.
Impact of nonoil export on nonoil economic growth in saudi arabia. Non oil export product, economic growth, ordinary least square, diversification, nigeria. Imperatives of nonoil exports to nigerias economic growth. The performance of the nonoil exports in the past two decades leaves little or nothing to be desired. The impact of oil and nonoil exports on the economic growth. The nigerian perspective is because the bulk of revenue needed for development purposes is derived from oil.