IMPACT OF VALUE ADDITION IN NON-OIL EXPORT OF AGRICULTURAL PRODUCTS IN NIGERIA 1976-2020

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IMPACT OF VALUE ADDITION IN NON-OIL EXPORT OF AGRICULTURAL PRODUCTS IN NIGERIA 1976-2020

INTRODUCTION

Non-oil export products are those commodities excluding crude oil (petroleum products), which are sold in the international market for the purpose of revenue generation.

According to CBN publication (1998) on the Nigeria export product guidelines oil export and non-oil export had to be distinguished because of the great different in terms of volume and value of export earning between the two oil export products accounting for over 92% of total volume of export and 86% of total volume of export earnings (CBN 2001).

There had been serious concern over the dependency of oil export earnings in the development of Nigerian economy. Following this successive government had tried to embark on diversification of the export base of the country thus; there had been efforts in the past and present, to increase the non-oil export of Nigeria both in volume and earning (value). As Soludo (2002) noted that the easiest way to fastening over nation’s economic recovering and development is to broaden over export base of non-oil exports,

which will invigorate the oiling sector of the economy and help place the economy on the sustainable development path.