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ABSTRACT
The overview of this study was to examine the impact of oil, and non-oil export on Nigerian economic growth. The data used for this study covers the period of 1986 to 2022. The dynamic ordinary least squares and the fully modified ordinary least square methodology, was adopted from the Dynamic ordinary least square model, the estimated results showed that oil export has a positive and significant impact on economic growth in Nigeria. The results also showed that, non-oil export has a positive but non-significant impact on economic growth in Nigeria during the period considered. The findings for non-oil export was correctly signed but found insignificant in influencing economic growth in Nigeria. Against apriori expectation, the result also showed that gross fixed capital formation has a negative and significant impact on economic growth. A similar result was found for inflation; showing that inflation negatively and significantly impact on economic growth as indicated by apriori expectation. Lastly, it was found that foreign direct investment does not significantly impact on economic growth even as a positive relationship was manifested between foreign direct investment and economic growth during the period evaluated. The study thus recommends that Nigeria should direct heavy investment in the non-oil export sectors such as agriculture and mining. This will create a multiplier effect and increase the productive capacity of non-oil export for sustainable economic development in Nigeria.
