ABSTRACT
The study consists of two independent models, gross domestic product (GDP) and investment respectively. The independent variables in the export of oil, non-oil exports, real exchange rate, and inflation rate were modeled to capture their effect on GDP and investment, respectively. The study employed a Log-linear model. Following the empirical results of this study, we observed that non-oil exports did not contribute much to economic growth in Nigeria, but other indicators exert enough pressure on the strength of the economy, evidence from the result of the first model. Judging by the results of the second model, the export of oil proves a non-negative variable significant to the growth of investment in Nigeria. The study recommends appropriate economic policies, institutional reforms and the enormous political will for the country to solve the problems of the decrease in exports of the non-oil sector and the trap of the Dutch disease associated with oil dependence.
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THE RELATIVE IMPACT OF OIL AND NON-OIL EXPORTS ON ECONOMIC GROWTH IN NIGERIA (1983-2011)
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