THE IMPACT OF FOREIGN TRADE ON THE NIGERIA ECONOMY. A RESEARCH PROJECT MATERIAL ON PUBLIC ADMINISTRATION
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
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
– How far has our country advanced in the production of goods with export quality?
– What are the things necessary for the industrial development of Nigeria?
– How much has Nigeria’s exports competed with her imports?