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

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

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