Impact of Non-Oil Exports on Nigeria’s Economic Growth

Nigeria's economy which was highly dependent on agriculture was transformed to one highly dependent on oil due to the oil boom of 1970s and turned Nigerian economy into a mono culture economy depending on oil revenue for her income. The oil prices fluctuate in the international market and any shock in oil prices will negatively affect her income and economic policies with the consequences of having negative impact on her economic growth. This paper addressed the problem by investigating the impact of non-oil export on Nigeria's economic growth, employing a secondary data from the publications of CBN annual reports of non-oil export and GDP from the period of the study 1988 to 2016, applying simple list square regression analysis on SPSS software, using analysis of variance (ANOVA) based on F distribution at a 5% level of significance. The results of this study indicate a positive impact of non-oil revenue on Nigeria’s economic growth.