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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:An appraisal of Nigeria's international trade in the 1990s
Author:Nwokoma, NdubisiISNI
Periodical:Nigerian Journal of International Affairs
Geographic term:Nigeria
Subjects:balance of payments
international trade
political change
Abstract:This paper appraises the performance of Nigeria's international trade during the 1990s, a turbulent period in the nation's history. This was the era of the June 12 presidential elections and their subsequent annulment and the isolation of Nigeria in many international fora. This era also witnessed the country's return to full democratic rule in 1999 and its readmittance to full membership of the international community. The paper investigates the extent to which these developments affected the dynamics of international trade, as reflected by the pattern of the balance of payments. It shows that the balance of payments position reacted more to developments within than outside the domestic economy. This can be explained by the fact that Nigeria's major export product, petroleum, is sought after worldwide. Also, the country's import dependence was not diminished despite the changes in the exchange rate. Thus, Nigeria's international trade relations were not adversely affected by the political and social imbroglio that ensued in the 1990s. Instead, the management of domestic monetary and fiscal policies had a greater impact. App., ref., sum. [ASC Leiden abstract]