The Impact of Tariffs on Nigerian Economy (2000-2020)

Abstract

This study examined the impact of tariffs on Nigeria's economic growth. It examines the extent to which tariffs have contributed to economic growth in Nigeria in 2000-2020. Tariffs, which are a form of tax or trade restrictions imposed on imported goods to discourage fledgling industries from international competition, can boost economic growth. The Ordinary Least Squares regression method was used to analyze the relationship between tariffs and economic growth. An econometric analysis was also used to determine the impact of tariff and other variables such as trade openness and exchange rate on economic growth in Nigeria. The results of the regression result showed that tariffs have a positive, statistically significant impact on economic growth in Nigeria. It was recommended that a trade policy be designed to improve the imposition of tariffs in Nigeria.