DIVERSIFICATION OF THE NIGERIAN REVENUE BASE; CONTRIBUTION OF THE NON OIL SECTOR
ABSTRACT
This study seeks to determine the effect of the Non-Oil revenue on Economic Development. It also highlights, the monoculture state of the Nigerian economy and the need to diversify the revenue base of the economy. The impact of the revenue from the agricultural sector, solid mineral sector and the Manufactures on the Gross Domestic Product (GDP) was carried out. The Analytical technique used was the co-integration analysis, which encompasses the use of unit root test and the error correction model. The findings from the study revealed that dynamic relationship exists between the revenue from the non-oil sector and economic development.
The major sub-sectors of the non-oil sectors, agriculture, Manufactures and solid minerals were tested individually on the total revenue and all have significant results except Manufactures. On the basis of empirical findings, there is the need to promote expanded production in both the agriculture and industrial sector to diversify the export market for Nigerian goods rather than relying majorly on the European and North American markets while at the same time giving grater attention to the packaging and the design of export product to command better prices and patronage at the international market. The study also suggested the necessity of upgrading basic infrastructure so as to create the conducive environment for expanded output in the non-oil sub-sector of the Nigeria economy.
CHAPTER ONE
1.1 Introduction
… This chapter will address the background information that motivated this study, the challenges that prompted it, its aim, and its objectives as a preface to subsequent sections of the study. Additional factors include the study's significance, scope, limitations, research questions and hypotheses, and the definition of technical terms.
CHAPTER TWO
2.0 Literature Review
2.1 Introduction
The review of relevant literature is the main topic of this chapter. A literature review covers theoretical and methodological contributions to a certain issue in addition to the state of knowledge at the time of writing. It provides information about the state of the art in relation to the subject you are writing about. It examines the body of work on the chosen subject. The literature evaluation in this study comprises the …
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