Keywords

international reserves, manufacturing exports, mining exports, agricultural exports, services exports

Abstract

This study examines non-oil exports and international reserve accumulation in Nigeria using annual data from 1981 to 2023. Descriptive statistics, correlation analysis and trend analysis are employed. Services and agricultural exports show modest positive associations with reserves, while manufacturing exports record a strong negative association and mining exports show a negligible relationship. Real GDP, the exchange rate and external debt are positively correlated with reserves. The findings support policies that strengthen export competitiveness, value addition and macroeconomic stability. The reported relationships are descriptive and should not be interpreted as causal effects.

Author Bio

Doctor Oluwabunmi Dada holds his Doctor of Philosophy (PhD) in the Department of Finance, Faculty of Management Sciences, Ekiti State University, Ado Ekiti. He is currently a Lecturer II in the Department of Banking and Finance, Faculty of Economics and Management Sciences, University of Ibadan, Nigeria, and the examination officer of the department. He has to his credit publications in local and internationally reputable academic journals and has presented papers at conferences held in various capacities. His key research interests and areas of expertise include development finance, financial econometrics, international finance, corporate finance, investment analysis, financial markets, and financial intermediation.

Publication Title

Bullion

Issue

Volume

First Page

Last Page

Recommended Citation

DADA, Oluwabunmi (2026) "Non-oil Exports and International Reserves in Nigeria: A Descriptive Assessment (1981-2023)," Bullion: Vol. 50: No. 2, Article 3.
DOI: https://doi.org/10.33429/0331-7919.1642
Available at: https://dc.cbn.gov.ng/bullion/vol50/iss2/3

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