Non-Oil Exports and Economic Growth In Nigeria

This is strictly an examination of the effect of non-oil export on economic growth of Nigeria. The basic aim is to examine the trend and composition of the non-oil export in Nigeria and investigate the extent of the contribution of non-oil export sector to the Nigerian economy. The study generate serious academic interest in evolving new methods and strategies needed in developing non-oil exports for higher productivity and efficient performance which in the long run will result to economic growth and development. Hence it evaluates the federal government incentives and schemes in promoting non-oil export trade promotion in Nigeria with focus on the immense derivable benefits from engaging in non-oil export and the resulting economic growth in Nigeria at aggregate level which are associated with the current international trends in global trade liberation. Virtually all the nations’ foreign exchange was obtained from the exportation of oil products due to the economic boom in 1970s. Thus, it is pertinent in this study to discuss the causes and consequences of the neglect of the non-oil export in detail as well as trend examined since 1970 in order to note its growth.