Moderating Inflationary Pressure Through Marketing of Non-Oil Exports: A Nigerian Perspective

This study explores how non-oil exports can help moderate inflation in Nigeria. By applying factor analysis and regression analysis, it identifies key drivers of inflation, including non-oil export earnings, exchange rate stability, and money supply growth. The findings reveal a strong negative correlation between non-oil exports and inflation, indicating that boosting non-oil export earnings can help stabilize prices. Additionally, the study underscores the importance of maintaining exchange rate stability to control inflation while highlighting the inflationary risks associated with excessive money supply growth. The study concludes that promoting non-oil exports is a crucial strategy for managing inflation and ensuring economic stability in Nigeria. To achieve this, it recommends that the government implement policies that enhance the competitiveness of non-oil exports, improve trade infrastructure, and maintain exchange rate stability. Additionally, strict monetary policies are needed to regulate excess liquidity. The study also emphasizes the importance of targeted investments in sectors like agriculture, manufacturing, and digital trade to support long-term economic diversification.