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The Impact of Foreign Trade on the Nigeria Economy

The Impact of Foreign Trade on the Nigeria Economy

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DEDICATION

This research material, titled “The Impact of Foreign Trade on the Nigeria Economy” is dedicated to God for His boundless grace and guidance. It is also a tribute to all computer enthusiasts whose contributions made my research journey smoother and enriched my documentation process, making the experience truly fulfilling.



ACKNOWLEDGEMENT

I am profoundly grateful to everyone who contributed to the successful completion of this project. I am especially grateful to my Supervisor (Name), the Head of Department (Name), and the Lecturers in the Department of Public Administration (PA) for their invaluable guidance and support. I also acknowledge the contributions of authors and scholars whose works on The Impact of Foreign Trade on the Nigeria Economy provided essential insights. Special thanks go to my study area (and any funding organizations, if applicable) for their financial assistance. I am equally thankful to stakeholders, including mentors, teachers, and colleagues, for their encouragement and support. Finally, I deeply appreciate my family and friends for their patience and unwavering support throughout this journey. Your contributions have been instrumental in making this research a reality.



TABLE OF CONTENTS

PRELIMINARY PAGES

CHAPTER ONE

INTRODUCTION

    CHAPTER TWO

    LITERATURE REVIEW

    • 2.1 Introduction
    • 2.2 Conceptual Review
    • 2.3 Theoretical Framework
    • ⋮
    • 2.4 Empirical Studies
    • 2.5 Research Gaps
    • 2.6 Summary of Literature Review

    CHAPTER THREE

    RESEARCH METHODOLOGY

    • 3.1 Introduction
    • 3.2 Research Design
    • 3.3 Population of Study
    • 3.4 Sampling and Sampling Technique
    • 3.5 Validation of Research Instrument
    • 3.6 Method of Data Collection
    • 3.7 Method of Data Analysis
    • 3.8 Questionnaire Administration
    • 3.9 Ethical Consideration
    • 3.10 Statistical Analysis

    CHAPTER FOUR

    DATA ANALYSIS, RESULT AND DISCUSSION

    • 4.1 Introduction
    • 4.2 Presentation and Analysis of Data
    • 4.3 Re-statement of Research Questions
    • 4.4 Test of Hypotheses
    • 4.5 Discussion of Findings

    CHAPTER FIVE

    SUMMARY, CONCLUSION AND RECOMMENDATION

    • 5.1 Introduction
    • 5.2 Summary of Findings
    • 5.3 Conclusion
    • 5.4 Recommendation
    • 5.5 Suggestion for Further Study

    REFERENCES

    APPENDIX A - “QUESTIONNAIRE”


    ABSTRACT

    It was discovered that Nigeria as a third world country lacks certain infrastructural facilities necessary for the smooth exportation and importation of goods and services. The research intends to identify and evaluate the utility rendered by the importation and exportation of goods and services to the Nigerian people and the economy as a whole. it is also aimed at ascertaining the efficiency and adequacy of the Nigeria industries in comparison with the foreign industries.

    To achieve its objectives, the researcher has duely examined the rate at which Nigeria’s imports exchange for its exports. Based on the secondary data collected and analyzed, it was observed that Nigeria mostly has small-scale industries which are insufficient for producing export goods. These industries also can not meet with the local needs. Nigeria depends mostly on imported goods for survival. It was also observed that, Nigeria exports mostly primary products solid minerals, agricultural products.

    Finally, it was observed that, foreign trade has had some negative effects on the Nigeria economy. Their problems include unemployment increased national debts, over dependence. It has also had good effect like increased in out put, foreign markets, better technical known- how. The project is divided into five chapters.

    Chapter one covers the introduction, statement of problem, purpose /objective of the study, significance of the study, limitation of the study and definition of terms.

    Chapter two treats different methods of the rate at which Nigeria’s imports exchange for its exports.

    Chapter three contains the research design and methodology of the study the source of data used, location of data and method of data collection.

    Findings of the research are the issue examined in chapter four. While the last chapter is devoted to recommendation and conclusion.


    The Impact of Foreign Trade on the Nigeria Economy

    CHAPTER ONE

    Introduction

    1.1 Background Of The Study

    It is wise to assert that no country in the would can sustain itself or survive without exchanging goods and services with other countries of the would. It is also wise to say that the economic growth and development of a country largely depends on how its imports exchange for its exports.

    In view of the above assertions. I have deemed it very necessary to embark on a research work or project on the impact of foreign trade on the Nigeria economy”. This is an attempt and effect to draw the attentions of many Nigerian scholars and professionals to certain silent questions which may be relevant to knowing the impact of foreign trade on the Nigeria economy. These questions are:

    1.2 Statement Of The Problem

    1. How far has our country advanced in the production of goods with export quality?
    2. What are the things necessary for the industrial development of Nigeria?
    3. How much has Nigeria’s exports competed with her imports?

    If we are able to give answers to these very relevant questions, and if we are able to identify the problem we encounter in the process, also if we are able to give solutions to these problems both, individually and collectively, then we will be able to solve these pressing problems which have hindered the overall economic growth and development of the Nigeria economy. And Nigeria will grow to become fully industrialized as many advanced countries of the world.

    A developing economy as that of Nigeria is basically characterized by a high degree of subsistence production, with a very low application of modern technology. These have resulted into a very high volume of importation against manufacturing and tertiary industries are relatively low and the agro- based industries are common but, in low capacity.

    Foreign trade should be highly encouraged but, there should be a balance of trade that is the aggregate imports should equal the aggregate exports, so as to have a balanced economy and good exchange rate.

    1.3 Objective Of The Study

    The objective of this will be summarized as follows:

    1. To find out the effect of foreign trade on Nigeria economy.
    2. The objective intends to compare the rate at which Nigeria import and exports goods and services.
    3. To find out the impact of certain bilateral and multilateral trade relationship which Nigeria has made with other countries over the years.
    4. To find out how foreign trade has helped Nigeria economy
    5. To find out whether Nigeria has invested on industrial projects.
    6. To find out how industrialization should be embraced by Nigeria in other to develop and in order to be able to compete in the international market.

    1.4 Significance Of The Study

    In as much as Nigeria has benefited from foreign trade, it has also felt a negative impact of foreign trade. This is because of the fact that, Nigeria is not industrialized, hence Nigeria imports much more than it exports. This has caused and advance balance of payment (B.O.P)

    This study will help to a large extent to

    1. Boost the production capacity of small and medium scale industries. The resultant effect being the increase in output for increased export.
    2. Initiate large − scale industrial projects
    3. Spell out the need for more allocation of the economy
    4. Increase the capacity utilization of small scale manufacturing industries hence, encouraging demand for foreign goods
    5. Discouraging too much importation, especially, on consumer goods.

    1.6 Definition Of Terms

    There are certain terms used in this work, which need to be briefly explained. They are:

    1. B.O.P. Balance of payment this entails the equilibrium of import and export receipts
    2. Boundary. A dividing line that separates countries.
    …

    CHAPTER TWO

    2.0 Literature Review

    2.1 Introduction

    This chapter focuses on the review of related literature. A literature review includes the current knowledge as well as theoretical and methodological contributions to a particular topic. It documents the state of the art with respect to the topic you are writing. It surveys the literature in the topic selected. In this research work the literature review includes the conceputal review, theoretical framework, the review of related literature …

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    In preparation for defending a project or seminar on The Impact of Foreign Trade on the Nigeria Economy, it is imperative that as a nursing student, you demonstrate comprehensive knowledge of your research. The defense process is structured to include presenting your work, answering questions, and illustrating its pertinence. Initially, provide a succinct yet thorough introduction to your research topic, emphasizing its importance and the objectives, ensuring that both the audience and the External Examiner can understand the scope of your study.

    Prior to your defense, be thoroughly acquainted with your research abstract and the critical elements of Chapter One, including motivation for embarking on this research, problem statement, objectives, and significance. In Chapter Two, be ready to cite at least two references from the literature review. For Chapter Three, you should be equipped to discuss the methodologies, tools, and techniques utilized. In Chapter Four, defend your research by justifying the findings and linking them to your research objectives.

    Conclude your defense by succinctly summarizing the study and offering insightful, evidence-based recommendations. A professional dress code, such as wearing a suit and tie, is vital to create a favorable impression and elevate your presentation.

    During the question and answer segment, the External Examiner may pose questions pertaining to your research. If confronted with a challenging or irrelevant question, respond diplomatically with, “Sorry, Sir/Madam, the question asked is beyond the scope of my study.” Whenever possible, direct your answers back to your research findings to reinforce your expertise.

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