Investigating How International Trade Shapes Nigeria’s Economy

Chizoba Linda Tevin-Anyali
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Chizoba Linda Tevin-Anyali: Oman Department of Economics, Nnamdi Azikiwe University Awka, Anambra State, Nigeria.

International Journal of Research and Innovation in Applied Science, 2024, vol. 9, issue 6, 116-125

Abstract: The study investigated how international trade shapes Nigeria’s economy during the period 1999-2022. The vector error correction method (VECM) was employed to examine the impact, while Augmented Dickey-Fuller (ADF) unit root test was conducted to ensure the stationarity of the time series data, and the Johansen co-integration test to assess the long-run relationship between the dependent and independent variables. Our results show that all variables, were stationary at first difference. The Johansen cointegration test conclusively demonstrated the existence of a long-run relationship among the variables. Furthermore, the results from the VECM reveal that the coefficients of the lagged value of foreign direct investment inflows (FDII) and non-oil export exhibit negative relationship with RGDP. The coefficient of the lagged value of non-oil import (NOIM) and exchange rate (EXCR) has positive impact with RGDP. The study recommends that government should create the enabling environment for investors to thrive. This will help increase the number of both foreign and domestic investors investing in Nigeria, and the output will be increased for domestic consumption and exportation.

Date: 2024
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