TRADE LIBERALISATION AND ECONOMIC GROWTH IN NIGERIA

Abstract

Globalization is about an increasing interrelated and mutually dependent world. It has been perceived as an inevitable and irreversible process for world development. This study focused on the trade liberalization and economic growth in Nigeria. This research is historical hence addressed the brief historical background of Nigeria economy, trade liberalization and concept of economic globalization. It also discussed the trade liberalization and economic growth. This was highlighted in the context of Nigeria economy policy over the years with international GDP per capita. After these discussions, economic policy suggestions were made that social infrastructure that will help to remove the constraints to capacity of local industries to seize opportunities in the international market should be put in place, common front should be formed with other countries with similar needs to get the external market barriers removed, promotions of the consumption of locally produced goods through orientation and deliberate policies are required and that efforts should be made to reorganize both the agricultural and industrial sectors to make collection of taxes more cost effective. These would enhance Nigerian economic growth.