The Impact of Non-Oil Export Strategies on Econonic Growth in Nigeria [1970-2013]

Abstract

Export promotion strategy is a deliberate government policy undertaken to encourage and boast the production of commodities for export. This is meant to diversify the export base that led to favourable Economic Growth. Primarily, data were collected from statistical bulletin (CBN) and hypothesis formulated. Non-oil export strategies have impact on Economic Growth. Using the econometric tool of regression analysis, the infrastructure bears a negative relationship with the GDP and credit from commercial bank and tariffs have positively affected economic growth in Nigeria. This was supported by their t-statistics which are all significant. Based on the above, the following recommendations are made, the government should enforce non-oil export policies towards resuscitating the failing non-oil export industry, improve on export incentives and infrastructures, review of policies and practices that are not favorable to the exporters in the country.

Keywords: Non-oil Export Strategies, Economic Growth, Nigeria