Abstract
Abctract. This study examined the role of non-oil exports in the economic growth of Nigeria. It determined how five selected independent variables (non-oil commodities); like vegetables, hides and skins; rubber and plastic export, and textile and textile articles contributed to Nigeria’s GDP (Dependent Variable). Using quarterly times series data from 2010 to 2017, the ARDL result showed that hides and skins; rubber and plastic export, and textile and textile article shave positive but insignificant effect on real GDP which was used as a proxy for economic growth. Secondly, the result also shows that there is bi-directional flow of causality between the real GDP and the non-oil export items. The study, among other things therefore recommends that government should diversify their economy, by taking a deeper look in to de-emphasizing mono-economy system, pay more attention to heterogeneous economy and endeavour to provide intermittently courses, capacity building, training and retraining in industries, and agriculture for professional development. This will catalyse the non-oil sector output to export levels for the betterment of the Nigerian economy.
Keywords. Non-oil Export, Economic Growth, Nigeria, Disaggregated Analysis.
JEL. O11, E20, Q13, C30.References
Abogan, O.P., Akinola, E.P., & Baruwa, O.I. (2014). Non-oil export and economic growth in Nigeria (1980 – 2011). Journal of Research in Economics and International Finance, 3(1), 1-11. doi. 10.14303/jrief.2013.045
Abou-Strait, F. (2005). Are exports the engine of economic growth? An Application of co-integration and causality analysis for Egypt”, 1997 – 2003. Economic Research Working Paper, 76. Tunis: African Development Bank. [Retrieved from].
Adenugba, A.A., & Dipo, S.O. (2013). Non-oil exports in the economic growth of Nigeria: A study of agricultural and mineral resources. Journal of Educational and Social Research, 3(2), 403-405. doi. 10.5901/jesr.2013.v3n2p403
Adugbo, D. (2017).3 yrs of low oil price and Nigeria’s struggle for survival. Daily Trust Newspaper. August 1. [Retrieved from].
Afolabi, B., Danladi, J.D., &, Azeez, M.I. (2017). International trade and economic growth in Nigeria. Global Journal of Human-Social Science: Economics, 17(5), 1-12.
Agbota, S. (2016). Nigeria can emerge as vegetables export giant. The Sun Newspaper, August 22, [Retrieved from].
Akeem, O.U. (2011). Non-oil export determinant and economic growth. European Journal of Business Management, 3(3), 236-257.
Bailey, N., Kapetanios, G., & Pesaran, M.H. (2016). Exponent of cross-sectional dependence: Estimation and inference. Journal of Applied Econometrics, 31(6), 929-960. doi. 10.1002/jae.2476
Boje, D.M. (2009). Critical Theory for Business and Public Administration. Charlotte, NC: Information Age Press.
Central Bank of Nigeria. (2016). Foreign trade: Oil and non-oil. CBN Statistical Bulletin, Vol.27, December.
Dimitrios, B., & Georgios, C. (2019). Inflation dynamics and the output-inflation trade-off: International panel data evidence. International Journal of Economic Enquiry, 4(1) 1-15. doi. 10.1111/ecin.12798
Dwivedi, D.N. (2004). Management Economics, 6th Ed., London Matins Press Inc.
Feder, G. (1983). On exports and economic growth. Journal of Development Economics, 12(1), 59-73. doi. 10.1016/0304-3878(83)90031-7
Federal Ministry of Agriculture and Rural Development. (2016). The Green Alternative (Nigeria’s Agriculture Promotion Policy 2016-2020). [Retrieved from].
Gujarati, D.N., Peter, D.C., & Gunasekar, S. (2009). Basic Econometrics, 5thed. New Delhi: Tata McGraw Hill Education Private Ltd.
Hazarika, G., & Otero, R. (2016). North–South trade liberalization and returns to skill in the south: The case of Mexico. The Journal of International Trade & Economic Development, 20(4), 449-465. doi. 10.1080/09638190903003028
Johnson, G., Scholes, K., & Whittington, R. (2008). Exploring Corporate Strategy: Text and Cases, 8th Ed. New Jersey: Prentice Hall Inc.
Kawai, V. (2017). An analysis of the impact of non-oil exports and economic growth in Nigeria from 1980-2016. International Journal of Innovative Research in Social Sciences and Strategic Management Techniques, 4(2), 83-94.
Kromtit, M.J., Kanadi, C., Ndangra, D.P., & Lado, S. (2017). Contribution of non-oil exports to economic growth in Nigeria. International Journal of Economics and Finance, 9(4), 253-162. doi. 10.5539/ijef.v9n4p253
Lawal, H. (2001). Appraising Nigeria’s agriculture since independence. Vanguard Newspaper. October 10. [Retrieved from].
Lucas, R. (1988). On the mechanics of economic development. Journal of Monetary Economics, 22(1), 3-42. doi. 10.1016/0304-3932(88)90168-7
Nwachukwu, C., Nelson, R., Okere A., Adekoya, F., Oji, H., Okwe, M., & Odittah, C. (2016). Why recession may persist. Guardian Newspaper”. September 1. [Retrieved from].
Ogbodo, D. (2016). Why Nigeria’s non-oil export declined in 2015. This Day Newspaper. July 26. [Retrieved from].
Olajide, F. (2017). Diversification: leather industry generates N25bn annually. Leadership Newspaper. June 9. [Retrieved from].
Osalor, P. (2016). Nigerian economic recession and entrepreneurial revolution. Vanguard Newspaper. September 26. [Retrieved from].
Palley, T.J. (2002). Export-led growth: Evidence of developing country crowding-out. In B. Arestis, & A. McCombie (Eds.), Economic Integration, Regionalism and Globalization. Cheltenam: Edward Elgar Publishing.
Pesaran, M.H., Shin, Y., & Smith, R. (2001). Bounds testing approaches to the analysis of level relationships. Journal of Applied Econometrics, 16(1), 289-326. doi. 10.1002/jae.616
Smit, A.J.(2010). The competitive advantage of nations: Is Porter’s diamond framework a new theory that explains the international competitiveness of countries?, Southern African Business Review, 14(1), 105-130.
Targetti, F. (2005). Key contributions to development economics. Journal of Development and Change, 36(6), 1185-1199.
Todaro, M.P., & Smith, S.C. (2012). Economic Development, 11th Ed. Boston: Pearson Education Inc.
Tyler, M. (1981). Growth and export expansion in developing countries: Some empirical evidence. Journal of Development Economics, 9(1), 121-130. doi. 10.1016/0304-3878(81)90007-9
Uzonwanne, M.C. (2015). Economic diversification in Nigeria in the face of dwindling oil revenue. International Journal of Economics and Sustainable Development, 6(4), 61‑67.
Vaish, M.C. (2007). Macroeconomic Theory, New Delhi: Vikas Publishing House PVT Ltd.
Waithe, K., Lorde, T., & Francis, B. (2011). Export-led growth: A case of Mexico. International Journal of Business, Humanities and Technology, 1(1) 21-30.
Waverman, L. (1995). A critical analysis of Porter’s framework on the competitive advantage of Nations. In A. Rugman, J.V.d. Broeck, & A. Verbeke (Eds.), Research in Global Strategic Management, Vol. V (Beyond the Diamond). Greenwich CT: JAI Press.