Effect of Agricultural, Manufacturing And Services Sectors Performance In Nigeria, 1980-2011

Abstract

The effect of non-oil components export on the economic growth in Nigeria continue to be debated and tested inorder for turning around of the nation’s economic outlook for the future good, by strengthen non-oil exportgrowth and success and also promote a non-oil export culture. This paper extends the previous empirical studieson the issue providing some evidence from time series data period over 1980 – 2011. In this study, the dependentvariables were agricultural, manufacturing and services sector whereas the independent variable is the grossdomestic product (GDP). The model was tested using unit root test, ordinary least square (OLS), serialcorrelation LM test and heteroskedasticity test to analyze the significant contribution between the dependent andindependent variables. The result shows that agricultural and services sector of non-oil export componentcontributed significantly to the economic growth (GDP) of Nigeria. Also the result presents that there is nocorrelation and heteroskedasticity problem. Finally this paper draws some policy implications for the furtherstudies to focus on the non-oil export component in Nigeria so has to ensure a turnaround of the nation’seconomic outlook (growth).Keywords: Non-Oil Export, Gross Domestic Product, Agricultural, Manufacturing and Services Sector.