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 ·
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? 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.
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