Nigerian Journal of Banking and Financial Issues (NJBFI)

Effects Of Macro-Economic Variables On Non-Oil Exports In Nigeria

Authors

  • Oluwabunmi DADA Author
  • Kehinde Omolade DARAMOLA Author
  • Babajide Francis FADAKA Author
  • Taiwo Temitayo ADETAN Author

Abstract

Nigeria's non-oil exports have not been performing optimally as a result of numerous factors of which unprecedented movement in macroeconomic variables constitutes. The study examined the effect of macroeconomic variables on non-oil export in Nigeria from 1986-2022. Data used were analysed with Autoregressive Distributed Lag (ARDL). The dependent variable aggregate non-oil export is made as a function of real gross domestic product, exchange rate, inflation rate, interest rate, and government expenditure. Evident from the result indicated that gross domestic product has a significant direct impact on non-oil exports. The exchange rate and government expenditure were positive but insignificant. Inflation and interest rates are significant but negatively related to non-oil export in Nigeria. The study concluded that the main macroeconomic variables that significantly induced non–oil export in Nigeria are real gross domestic product, interest rate, and inflation rate.

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Published

2026-01-16

Issue

Vol. 9 No. 2 (2023): Nigerian Journal of Banking and Financial Issues (NJBFI)

Section

Articles