INTERNATIONAL TRADE AS A CATALYST FOR ECONOMIC GROWTH OF NIGERIA
Abstract
ABSTRACT
ThestudyinvestigatedInternationaltradeasacatalystforeconomicgrowthofNigeria.Theobjectiveofthisstudyistocriticallyx-raytherelationshipbetweeninternationaltradeandeconomicgrowthofNigeria.Wetestedtwohypothesesusingmultipleregressionanalysis.Inhypothesisone,wetestedtherelationshipbetweenexportandeconomicgrowthofNigeria.At5%levelofsignificanceourF–testwas495.496andt-testwas11.124.WethereforerejectH0andconcludethatthereisasignificantrelationshipbetweenexportandeconomicgrowthofNigeria.Inhypothesistwo,wetestedtherelationshipbetweenimportandeconomicgrowthofNigeria.At5%levelofsignificanceourF-testwas495.496andt–testwas6.591.WethereforerejectH0andconcludethatthereissignificantrelationshipbetweenimportandeconomicgrowthofNigeria.Thestudyamongothersrecommendsthatgovernmentshouldencourageexportdiversification,non-oilexportsshouldbeencouragedandconcentrationonoilsectorshouldbeminimal.
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