Implication of Non-Oil Revenue on Macroeconomic Performance in Nigeria

Abstract

This study examined the implication of Non-oil revenue on macroeconomic performance in Nigeria for the period of 1990-2020. The study employed secondary time-series data The estimation techniques include Ordinary Least Square (OLS) method, while standard error tests (SE), analysis of variance (ANOVA) are used to test hypotheses. Findings indicated that agricultural trade value, services export, Real interest rate, and credit to agriculture had a positive impact on non-oil revenue while employment in agriculture indicated otherwise. The study recommends that the government should ensure resources are channeled to agricultural-based exports Hence drive foreign exchange earnings through agriculture outputs, hence making the sector more viable and the financial sector should formulate more realistic agricultural driving policies that will enable more availability of credit to the agricultural sector for expansion.