Nigeria is an import-dependent economy. Meaning Nigeria’s economy relies heavily on importing goods from other countries. For instance, about 70 percent of the medicines used in Nigeria are imported. And despite being an...
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How Nigeria’s Import Restrictions Hurt Local Consumers
The Central Bank of Nigeria (CBN) currently restricts the importation of over 40 items into the country. This means that it does not provide importers with the needed foreign exchange (forex) for the importation of these items...
Manufacturing is Nigeria’s Best Approach to Maximise the AfCFTA
The average manufacturing capacity of Nigeria pegged at 73.3 percent in 1981 has dropped to 55 percent in 2021. This decrease can be attributed to political instability, global economic pressures, constant government policy...