THE RELATIVE IMPACT OF OIL AND NON-OIL EXPORTS ON ECONOMIC GROWTH IN NIGERIA (1983-2007)

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ABSTRACT

The study is made up of two independent models, Gross Domestic Product (GDP) and Investment respectively. The independent variables Oil export, Non-oil export, Real exchange rate and Inflation rate were modeled to capture their effect on GDP and Investment respectively.

The study employed Log Linear Model. Following the empirical findings in this study, we observed that, Non-oil export have not contributed a lot to economic growth in Nigeria but other indicators exert enough pressure on the strength of the economy, evidence from the result of the first model. Judging from the result of the second model, Oil export proves a negative non significant variable with investment growth in Nigeria.

The study recommends appropriate economic policies, institutional reforms and massive political will for the country to address the issues of dwindling exportation of Non-oil sector and the trap of Dutch Disease associated with oil-dependency.

LIST OF TABLE

Pages

Unit Root Test for Stationarity

Co-integration Result

Modeling Log of Differenced GDP by OLS

Modeling Log of Differenced INV by OLS

Summary of t-statistic test for model 1

Summary of t-statistic test for model 2

TABLE OF CONTENT

Title page

Approval page

Dedication

Acknowledgement

Abstract

List of tables

Table of content

CHAPTER ONE

1.0 Introduction

1.1 Background of study

1.2 Statement of problem

1.3 Objective of the study

1.4 Statement of hypothesis

1.5 Significance of the study

1.6 Scope and limitations of the study

CHAPTER TWO

2.1 Meaning of oil and non-oil exports

2.2 A brief historical perspective on oil in Nigeria

2.3 Oil and economic policies in Nigeria

2.4 The Dutch-Disease

2.5 The boom and burst periods in oil sector and policy response

2.6 Macroeconomic policies and structure of Non-oil export in Nigeria

2.7 Oil export, Non-oil export and Economic growth in Nigeria

Empirical Literature

CHAPTER THREE

Research methodology

3.1 Model Specification

3.2 Method of Evaluation

CHAPTER FOUR

4.1 Data presentation

4.2 Data Analysis

CHAPTER FIVE

Summary, Conclusion and Recommendation

5.1 Summary

5.2 Conclusion

5.3 Recommendation

BIBLIOGRAPHY

Appendix

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THE RELATIVE IMPACT OF OIL AND NON-OIL EXPORTS ON ECONOMIC GROWTH IN NIGERIA (1983-2007)

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