IIARD International Institute of Academic Research and Development

IIARD INTERNATIONAL JOURNAL OF BANKING AND FINANCE RESEARCH (IJBFR )

E-ISSN 2695-1886
P-ISSN 2672-4979
VOL. 10 NO. 3 2024
DOI: https://doi.org/10.56201/ijbfr.v10.no3.2024.pg16.27

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Export Trade and Economic Growth Nexus in Nigeria: 1981 – 2022

Ejinkonye, Remigius Chinwoke (PhD), Adiga, Dauda Leviticus (PhD), Nwosu, Samuel N. (PhD), Mazeli, Edith Nkiruka (PhD)

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Abstract

This study assessed the export trade and economic growth nexus in Nigeria. Background: Export trade also referred to as international trade is the acquisition of goods and services produced in one country by citizens of another country. Some factors limiting Nigeria’s export trade include: narrow production and export base dominated by low value products such as raw materials and primary commodities, insufficient exploration and diversification of other sectors, over dependence on oil, very high trade cost, tariff and non-tariff barriers, wrong policies, limited access to international market. Aims: specifically the study sought to ascertain: (1) the effect of oil export on gross domestic product in Nigeria (2) the effect of non-oil export on gross domestic product in Nigeria. Methods: The research design was ex-post facto and anchored on the theory of comparative advantage. Data from 1981 to 2022 was obtained from Central Bank of Nigeria statistical bulletin and was analyzed using descriptive statistics, ADF unit root test and OLS technique. Results: (1) Oil export had a positive (0.003527) and significant effect (0.0002) on gross domestic product in Nigeria (2) Non-oil export had a positive (0.038800) and significant effect (0.0000) on gross domestic product in Nigeria. There is no unit root, the probability (f-

keywords:

economic growth; oil export; non-oil export; export trade.

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References:

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