EXPORTS AND ECONOMIC GROWTH IN NIGERIA

Godly Otto () and Wilfred Ukpere ()
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Godly Otto: Department of Economics Faculty of Social Sciences University of Port Harcourt
Wilfred Ukpere: Department of Industrial Psychology and People Management Faculty of Management University of Johannesburg, Johannesburg, South Africa

Annals of Spiru Haret University, Economic Series, 2013, vol. 4, issue 3, 37-49

Abstract: Nigeria is an oil dependent economy, over 90 per cent of its exports receipts in recent years flow from petroleum but this sector is currently affected by local challenges, which include insecurity, oil thefts, sabotage and an unfriendly operational environment. These challenges are generating loses for the major producers and encouraging capital flight but amidst this situation, the economy is said to be having an impressive growth. This paradox informed this research. The study was designed to see the nexus between exports and economic growth in Nigeria. Using data from the Central Bank of Nigeria spanning 1980-2011, the study with the aid of OLS regression analysis found a strong relationship between Exports and economic growth in Nigeria. Nigeria will be better served if it diversifies its export base. It must also create structures that lead to better redistribution of export incomes within the local economy.

Keywords: exports; external sector; imports; economic growth (search for similar items in EconPapers)
JEL-codes: F10 F43 (search for similar items in EconPapers)
Date: 2013
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