Analysing Nigeria’s Trade Policies: Evolution, Achievements, and Challenges

Abstract

This paper examines the trajectory of Nigeria's trade policies from the pre-independence era to the present day, highlighting their benefits and challenges. Indeed, successive Nigerian governments have implemented various policies to reduce dependence on oil and gas, seeking to diversify the economy base. While noticeable gains have been recorded in the agricultural sector and domestic manufacturing capabilities, the need for improvement is equally not doubtful. There is the strong imperative for improvements in the value-chain of agriculture, enhancement of manufacturing capabilities and efficiency, and capital investments to boost the solid minerals sector. All of these are initiatives that must be considered if the country must develop pragmatic trade policies. The globalisation of trade has clearly shown that Nigeria must move beyond implementing trade policies that are protective of its domestic industries, but to adopt those that balance its economic growth and development objectives.