Nigeria - U.S. Trade Relations in the Non-Oil Sector
Nigeria - U.S. Trade Relations in the Non-Oil Sector

Author: Gbadebo Olusegun Odularu

Publisher: Universal-Publishers

Published: 2008-11

Total Pages: 199

ISBN-13: 1599427036

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In as much as trade fosters economic development, it also exacerbates poverty, especially in the sub Saharan African (SSA) countries. Against this backdrop, this study will increase our understanding of the estimation of non-oil commodity trade flows between Nigeria and the U.S. More specifically, the study aims to analysing the impact of African Growth Opportunity Act (AGOA) on the U.S. imports of non-oil products from Nigeria. The research objectives are woven around the following questions: - What is the nature of Nigeria's and the U.S.'s foreign trade policies with particular reference to non-oil trade? - What are the patterns, magnitude, composition and trends in Nigeria-US non-oil trade? - Which economic sectors possess greatest potential for fostering trade in the non-oil sector between Nigeria and the U.S.? - What is the impact of AGOA on the diversification and growth of non-oil exports in Nigeria? This study adopts the difference-in-differences (DiD) as the research methodology. Within the Nigerian context, DiD intuitively compares the trends in imports of AGOA non-oil products before and after AGOA with the pattern of imports of non-AGOA non-oil products before and after AGOA, controlling for the timing of AGOA, import capacity and economic performance of both U.S. and Nigeria. Using the World Trade Organisation (WTO) Integrated Data Base (IDB), the empirical analysis reveals that AGOA non-oil products increased by as much as 182 percent with the implementation of AGOA, while the non-AGOA non-oil products fell by 76 percent. Conclusively, AGOA has had a considerably positive impact on the Nigerian non-oil sector at the general level. The policy implication of the empirical analysis is the need for the U.S. to expand the product coverage and opportunities of AGOA non-oil products in order for AGOA to achieve its objectives of using trade as a potent tool for promoting economic growth in SSA.

A Comparative Analysis on the Role of Crude Oil and Non-Oil Exports on Nigerian Economy
A Comparative Analysis on the Role of Crude Oil and Non-Oil Exports on Nigerian Economy

Author: James Leekaaga Fiiwe

Publisher:

Published: 2017

Total Pages: 20

ISBN-13:

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Oil export and nonoil export have remained sources of revenue for Nigeria over the years, however the over dependence on oil sector and neglect of the nonoil sector has raised issues on which export sector impacts more on the Nigeria economy. This study therefore carried out comparative analysis on the role crude oil export and nonoil export in relations to Nigeria's economic growth. Data were collected from CBN statistical bulletin from 1980-2015. OLS, Augmented dickey fuller, co-integration and error correction model were used to analyze the data. Findings suggest that both oil export sector and nonoil export sector have positive impact on GDP. The ADF showed that all the variables are stationary at first order of difference while the co-integration shows that two cointegrating variables. The error correction model indicates that oil export sector and nonoil export sector have long run relationship with Nigeria's GDP. It concludes that nonoil export has greater impact on the economy than the oil export sector for the period under review. Based on the findings, it is recommended that the government should implement export diversification policies. Non-oil sector exports should be encouraged. The development of the nonoil export sector will further improve the volume of exports and balance of trade in Nigeria.

United States-Nigeria Trade Relations: a Perspective of Its Politics and Economics 1960-1984, 1987
United States-Nigeria Trade Relations: a Perspective of Its Politics and Economics 1960-1984, 1987

Author:

Publisher:

Published:

Total Pages: 0

ISBN-13:

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This study centers on the trade relations between the United States and Nigeria from 1960-1984. Economic relations between the United States and Nigeria began to take direct shape soon after Nigerian independence in 1960. In its present form, the relations significantly undermine Nigeria's development. Divergent perceptions exist as to the developed country that has accounted for Nigeria's current underdeveloped status. Some views see it as Britian, because of its former position as Nigeria's colonial master. The general thesis of our research is that Nigeria dependency on Britain has shifted to a greater dependency on the United States. As we see it, the present US-Nigeria trade relations will continue to undermine Nigeria's development insofar as the unequal trade relations continue. In order to substantiate our hypothesis, we investigated three major areas of trade: the petroleum oil industry, the agricultural sector, and the commerce industry. Our research methodology involved the task of collecting and analyzing a significant body of statistical data relating to the volume, commodities, direction of trade, as well as the sectoral distribution of US investment and participation in the Nigerian economy. Our strategy also involved the task of locating the empirical trends within a theoretical framework as it pertains to the historical dynamics of the political and economic relations between both countries. Our findings revealed that although Nigeria truly wishes to develop, she runs into policy choices because of the dilemma posed by the desire to solve acute national problems which often exceed her system capabilities, and the desire to maintain system's autonomy even when it is clear that the system can no longer hold sway to the modern realities of Nigeria. The United States seeks to take advantage of this phenomenon to balance her deficit trade position with Nigeria as well as cultivate the enormous Nigerian market for U.S. goods and services. Our study conclu

The Price of Oil
The Price of Oil

Author: Bronwen Manby

Publisher: Human Rights Watch

Published: 1999

Total Pages: 230

ISBN-13: 9781564322258

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Attempts to Import Weapons

Foreign trade barriers
Foreign trade barriers

Author: United States. Congress. House. Committee on Energy and Commerce. Subcommittee on Commerce, Consumer Protection, and Competitiveness

Publisher:

Published: 1990

Total Pages: 120

ISBN-13:

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Learning from China?
Learning from China?

Author: Chen, Yunnan

Publisher: Intl Food Policy Res Inst

Published: 2016-11-21

Total Pages: 32

ISBN-13:

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The question of how to promote structural transformation is central in fostering sustainable growth and poverty reduction in low-income countries in Africa. Following China’s domestic economic transformation and its growing outward investments in the developing world, we seek to understand how Chinese investment in Africa, particularly in manufacturing, may help to foster industrialization and in turn the structural transformation of African economies. We focus on Chinese investments and partnerships in Nigeria, a salient destination for Chinese manufacturing foreign direct investment in Africa, and examine the potential mechanisms of technology transfer that might catalyze such transformation. We find some small but significant cases of potential technology transfer, particularly through technical partnerships between firms. However, the future potential of such mechanisms will depend on the initiative of Nigerian actors to leverage Chinese investment to their interest.

Doing Business 2020
Doing Business 2020

Author: World Bank

Publisher: World Bank Publications

Published: 2019-11-21

Total Pages: 241

ISBN-13: 1464814414

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Seventeen in a series of annual reports comparing business regulation in 190 economies, Doing Business 2020 measures aspects of regulation affecting 10 areas of everyday business activity.

Fostering Trade in Africa
Fostering Trade in Africa

Author: Gbadebo O.A. Odularu

Publisher: Springer Nature

Published: 2020-03-09

Total Pages: 223

ISBN-13: 3030366324

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This book discusses trade relations and facilitation issues at both the regional and the continental African level, highlighting the increasing business opportunities and challenges that confront Africa in the digital age. It also examines the effects of trade policies and other policy instruments on Africa’s economic development and presents workable policy measures for a more business-friendly ecosystem. Discussing various topics, including trade relations between African countries, African and international trade agreements, and trade liberalization policies, the book appeals to scholars of economics, business and management as well as professionals and policymakers interested in fostering free trade and sustainable business development in Africa.