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

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

Book Description: 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

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