This article was originally published as: ASSESSMENT OF NIGERIA’S ECONOMIC INTEREST IN ITS BILATERAL RELATIONS WITH THE UNITED STATES, 2012-2022
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Abstract
This paper investigates Nigeria’s economic interest in its bilateral relations with the United States, 2012-2022. It explores the historical antecedents that have shaped Nigeria’s interest, and post-independence economic policies, which have led to a mono-economy centred around oil exports. The historical and exploratory research method was employed through secondary sources such as textbooks, journals, government publications, conference and seminar lecture materials, and the Internet. While Nigeria has benefited from U.S. investments, market access, and technological transfers, these advantages have often come with significant drawbacks such as reduced policy autonomy and vulnerability to external economic shocks. The research adopted the dependency theory as the theoretical framework for analysis. The findings underscore the need for Nigeria to diversify its economy, strengthen regional trade partnerships, and improve governance to mitigate these challenges. It concludes that although the economic relationship with the U.S. has provided short-term gains, it has compromised Nigeria’s long-term national interests, highlighting the importance of pursuing a more balanced and self-reliant economic strategy. The paper recommended that through economic diversification and regional integration, Nigeria can enhance its resilience and align its economic policies more closely with its national interests.
Authors
- ESTHER GMADAYI OGUNLEYE
Keywords
Civil Society, Gender Equality, Economic Development, Nigeria
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