Evaluation of Non-Oil Contribution in Export Financing the Development of Nigeria's Economy: An Empirical Analysis of Export Processing Zone

Abstract

This paper discussed Government decisive move to reduce the dependence on crude oil exports and diversify her export base through the non-oil export initiative. Indeed Nigeria quest for diversification of its export basket, which has over the decade been dominated by crude oil with agriculture trailing at a distant. This exploratory study, however, indicates that given recent proactive efforts from the private sector and export processing zone especially efforts of the banking sector to finance export of commodities, changes are becoming noticeable in the Nation” export profile. This is evidenced with the traditional commodities like cocoa, cashew nut and ginger been found in the Nigerian foreign market.

Keywords: Export, Non-oil sector, Dievrsification, Economy, Evaluation