International Journal of Social Science & Economic Research
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Title:
NON-OIL SECTOR PRODUCT EXPORTS AND THE GROWTH OF THE NIGERIAN ECONOMY

Authors:
DR. OBORO OGHENERO GODDAY and PROF. AGUWAMBA MARACHI SUNDAY

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DR. OBORO OGHENERO GODDAY1 and PROF. AGUWAMBA MARACHI SUNDAY2
1. Department of Banking and Finance, Faculty of Administration and Management, Delta State University of Science and Technology, Ozoro. Delta State, Nigeria.
2. Department of Banking and Finance, College of Business and Management Studies, Igbenidion University, Okada, Edo State, Nigeria.

MLA 8
GODDAY, DR. OBORO OGHENERO, and PROF. AGUWAMBAMARACHI SUNDAY. "NON-OIL SECTOR PRODUCT EXPORTS AND THE GRWOTH OF THE NIGERIAN ECONOMY." Int. j. of Social Science and Economic Research, vol. 7, no. 3, Mar. 2022, pp. 472-494, doi.org/10.46609/IJSSER.2022.v07i03.001. Accessed march. 2022.
APA 6
GODDAY, D., & SUNDAY, P. (2022, March). NON-OIL SECTOR PRODUCT EXPORTS AND THE GRWOTH OF THE NIGERIAN ECONOMY. Int. j. of Social Science and Economic Research, 7(3), 472-494. Retrieved from doi.org/10.46609/IJSSER.2022.v07i03.001
Chicago
GODDAY, DR. OBORO OGHENERO, and PROF. AGUWAMBAMARACHI SUNDAY. "NON-OIL SECTOR PRODUCT EXPORTS AND THE GRWOTH OF THE NIGERIAN ECONOMY." Int. j. of Social Science and Economic Research 7, no. 3 (March 2022), 472-494. Accessed march, 2022. doi.org/10.46609/IJSSER.2022.v07i03.001.

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ABSTRACT:
This paper critically investigated the effect of non-oil sector product exports on the growth of the Nigerian economy from 1990-2020 using the disaggregated approach. The regressor is non-oil sector product exports measured by agricultural products exports, manufacturing products exports, solid mineral exports, and services exports while the regress and is economic growth measured by real gross domestic product per capital. The study was patterned after the Vector error correction methodology though some pre-estimation test like descriptive statistics, correlation analysis, unit root test, cointegration tests, and granger causality tests were conducted. The data sourced from this paper were gotten from the Central Bank of Nigeria Bulletin and the World Bank Data bank (2020). The study affirmed that previous values of agricultural product exports and manufacturing product exports exerted positive high effect on the Nigerian economic growth. Meanwhile, past values of solid mineral and services exports influenced the growth of the Nigerian economy in a negative yet significant manner. Hence, we conclude that all non-oil export indicators exerted high statistical significant effect on economic growth with the exception of agricultural and manufacturing product export. Consequently, we suggests that pragmatic policy formulation on investment should be centered on the agro-allied sub-sector since it has the potential to better the Nigerian economy. Lastly, the federal government of Nigeria should give preference and palliative measures to investors who desire to invest in the manufacturing sector.

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