Research purpose: The broad objectives of study is to: examine the effect of non-oil revenue on economic growth of Nigeria while the specific objectives are to ascertain the effects of Agricultural revenue, transportation revenue and manufacturing revenue on real gross domestic product (RGDP) of Nigeria.
Methodology: Hypotheses were formulated in line with the objectives. The study used an ex post facto research design. Data were collected through secondary sources from CBN Statistical bulletin (1981-2022) which was analyzed using ordinary least squares (OLS) method and multiple regression with the help of E-view 10.
Findings: The study revealed that within the period of the study, the revenue from the agricultural sector and manufacturing sector’s had a significant effect of P(0.0000<0.05) and P(0.0004 <0.05) respectively on the real gross domestic product of Nigeria, while the transport sector’s revenue instead had a non-significant effect of P(0.2976˃ 0.05).
Conclusion: The study affirmed that non-oil revenue has a positive and significant effect on economic growth and development in Nigeria except the Transportation sector.
Recommendations: It was recommended that the government should develop the agricultural sector by ensuring local production of goods and services and the extension of more credit facilities to local farmers. The transport sector should be developed by mass transit schemes and proper management of government owned systems. Moreover, the Government should create an enabling environment for our local industries by providing constant electricity and adopting minimal export tax, and regulate inflation rate so that the private sector patronizes local industries. In all, the government should make well planned, deliberate moves to turn to non-oil sources of revenue.
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