Impact Of Non-Oil Revenue On Economic Growth In Nigeria:- Ezengene Chinemerem M

ABSTRACT

The study investigated the impact of non-oil revenue in economic growth in Nigeria. The objective of the study was to ascertain the impact of non-oil revenue on economic growth in Nigeria. To answer the above objective the study used secondary data comprising of real gross domestic product (dependent variable), oil revenue, manufacturing revenue and agricultural revenue ( proxy for non-oil revenue) obtained from Central Bank statistical bulletin for the period of 37 years, from 1981 to 2018. The data obtained was estimated and statistically analysed using E-views 9. The study findings established that the estimated coefficient of the regression parameters have both positive and negative effect on real gross domestic product being the regressed The study also found out thatthere is a long run relationship between non-oil revenue (agricultural revenue) and economic growth in Nigeria during the period under review. The study concluded that both oil and non-oil revenue have positive effect economic growth in Nigeria. The study therefore recommends that Government should concentrate on developing and enhancing the agricultural and manufacturing sectors of the economy. Because the development of thus sectors will increase productivity, real gross domestic product, boost fast economic growth and lastly generate more revenue for the government in return.