THE IMPACT OF NON – OIL EXPORT ON ECONOMIC GROWTH IN NIGERIA
Abstract
This paper tries to examine "The impact of non oil export on economic growth in Nigeria". using the Ordinary Least Square (OLS) for the analysis with the aid of data sourced from CBN statistical bulletin for the period of 1980 to 2010. The variable in the analysis are RGDP, forms the dependent variable, oil export, interest rate and real exchange rate, forms the dependent variables. From the analysis, it was discovered that the model was normally distributed and the error term was constant over time and also the unit root test which was applied to check the stationary data, conform that the data was stationery after the analysis. It was also discovered generally that non oil export has a significant impact on economic growth in Nigeria. The implication is that there was stable exchange in the country during the year under reviewed. Statistically; the t- test statistics of the variables under consideration indicates that the variables under consideration were significant and all estimates of the regression were statistically adequate. Durbin- Watson statistic indicates that the entire regression statistically significant. It was recommended as a policy implication and concluded that the government should make ideas that will regulate its spending in the country and promote economic growth in Nigeria.
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