THE national economy is set to receive the biggest boost from non oil sector in 2012.

According to a poll conducted by Reuters, non-oil sector, including telecommunications, wholesale and retail trade, and construction, will attract the most investments into the country this year.

The poll also forecasts that the economy would grow by seven per cent, as there would be solid performance in the sectors outside of the petroleum sector, which has been the major foreign exchange earner for the country for more than three decades.

'We expect to see strong growth in Nigeria, bolstered by robust expansion in the non-oil sectors, particularly retail, telecoms and construction,' said Gregan Anderson of London-based risk consultancy Business Monitor International.

The poll confirmed the predictions by industry analysts who said that investments in non-oil sectors would continue to dominate the economy following the on-going structural reforms by the Federal Government.

Recent figures released by National Bureau of Statistics (NBS) showed that the non-oil sectors, especially agriculture, dominated the nation's Gross Domestic Product in 2011.

The country's GDP growth dipped to 7.4 per cent in the third quarter of 2011 a year earlier, from 7.7 per cent in the second quarter.

Government has since the third quarter of 2011 been getting strong investment plans from local and foreign companies to participate in agribusinesses, solid minerals and manufacturing sectors.

The country's large consumer market has been a major attraction for investors.

'Inflation will average 10.7 per cent this year before easing to 10.4 per cent next year. The main factors driving prices would be food and fuel, as well as the weak naira currency,' the report said.

Consumer inflation edged down slightly in December to 10.3 per cent, although food inflation quickened to 11 per cent from 9.6 per cent the previous month.

Central Bank of Nigeria raised rates last year by 600 basis points to 12 per cent to support a struggling naira and keep inflation in single digits.

The naira is expected to ease slightly to 162.2 against the dollar by the end of the first quarter, firm to 161.8 three months later, and end finally firming to its current level of 160 at the end of the year.