Factors Affecting International Trade Activity in Less Developed Nations: Nigeria as a Case Study

Tochukwu Benedict Ezeifekwuaba

doi:doi:10.11648/j.sr.20221003.13

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Factors Affecting International Trade Activity in Less Developed Nations: Nigeria as a Case Study

Tochukwu Benedict Ezeifekwuaba

Published in Science Research (Volume 10, Issue 3)

Received: 8 February 2022 Accepted: 21 March 2022 Published: 8 June 2022

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Abstract

In regards to a report by CNN, Nigeria has the highest statistics of Individuals inhabiting and dwelling in abject poverty with an approximated 86.99 Million Citizens of Nigeria inhabiting on less than $1.90 per day. Also, Foreign Investors are withdrawing their businesses and projects across the Nations. It is attested that as of September 24^th 2018, International Investors withdrew almost 435.4 Billion from the Stock Market as a result of the Poor and Weak Policy disagreements between International Traders and the Governments. This Research Paper evaluated the factors that affects and influences foreign trade activity in Nigeria. Some recognized factors entail trade policy, political instability, corruption, demand, inflation, foreign currency reserves and exchange rate. Solutions to the recognized factors were provided at the end of the research study. Past research studies were evaluated and the generated conceptual framework was focused on past discoveries and findings. Recommendations for Implementation of this Research Study on International Business Managers, Investors, Domestic Entrepreneurs as well as Nigerian Government in Charge of International Trades have also been emphasized along with treasured and practical recommendations for Central Bank of Nigeria (CBN) and International Investors. The Research Paper submits and presents that the International Trade Pattern of Nigeria does not adapt and align to the global standard policy which influences and affect foreign trade. Amongst others, it was suggested that the Nigeria State/Government needs to come up with a strategy and plan where trade policy, terrorism and corruption should be eradicated and amended so as to attain to the global standard.

Published in	Science Research (Volume 10, Issue 3)
DOI	10.11648/j.sr.20221003.13
Page(s)	69-80
Creative Commons	This is an Open Access article, distributed under the terms of the Creative Commons Attribution 4.0 International License (http://creativecommons.org/licenses/by/4.0/), which permits unrestricted use, distribution and reproduction in any medium or format, provided the original work is properly cited.
Copyright	Copyright © The Author(s), 2022. Published by Science Publishing Group

Keywords

Trade Operation, International Trade, Nigeria

References

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[5]	Vanguard. (2016). How Buhari is fighting and tackling corruption, Retrieved from https://www.vanguardngr.com/2016/07/how-buhari-is-fighting-corruption/
[6]	Gramer, R. (2017). Nigerian spy chief caught with $43 million in cash is suspended. Retrieved from https://foreignpolicy.com/2017/04/20/nigerianspy-chief-caught-with-43-million-in-cash-is-suspended/
[7]	Ndubuisi, P., Uma, E., & Uma, K. (2016). Foreign Direct Investment (FDI) Inflows, Government Policy and Initiative in Nigeria: An empirical exposition. International Journal of Educational Research and Science, (6), 2249-6947.
[8]	Liargovas, G. P., & Skandalis, K. S. (2012). Openness and Foreign Direct investment (FDI): The case and scenario of developing nations. Social Indicators Research, (106), 323—331.
[9]	Onyali., I &Okafor, T. (2014). Foreign Direct Investment (FDI) and the Nigerian Economy: Vision 2020 mission. International Journal of Finance and Businessmanagement, (2), 8-16.
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[14]	Abu, N., Karim, A. M. Z., & Aziz, A. I. M. I. (2014). Low and Minimal savings rates in the Economic Community of West African States (ECOWAS): The role and responsibility of the political instability-income interaction. South East European Journal of Economicsand Business, 8 (2), 53-63.
[15]	Kazeem, Y. (2017). The anti-corruption fight of Nigeria’s president Buhari has hit close to home. Retrieved From https://qz.com/africa/1115452/the-anticorruption-fight-of-nigerias-president-buhari-has-hit-close-to-home/
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APA Style

Tochukwu Benedict Ezeifekwuaba. (2022). Factors Affecting International Trade Activity in Less Developed Nations: Nigeria as a Case Study. Science Research, 10(3), 69-80. https://doi.org/10.11648/j.sr.20221003.13

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ACS Style

Tochukwu Benedict Ezeifekwuaba. Factors Affecting International Trade Activity in Less Developed Nations: Nigeria as a Case Study. Sci. Res. 2022, 10(3), 69-80. doi: 10.11648/j.sr.20221003.13

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AMA Style

Tochukwu Benedict Ezeifekwuaba. Factors Affecting International Trade Activity in Less Developed Nations: Nigeria as a Case Study. Sci Res. 2022;10(3):69-80. doi: 10.11648/j.sr.20221003.13

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@article{10.11648/j.sr.20221003.13,
  author = {Tochukwu Benedict Ezeifekwuaba},
  title = {Factors Affecting International Trade Activity in Less Developed Nations: Nigeria as a Case Study},
  journal = {Science Research},
  volume = {10},
  number = {3},
  pages = {69-80},
  doi = {10.11648/j.sr.20221003.13},
  url = {https://doi.org/10.11648/j.sr.20221003.13},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.sr.20221003.13},
  abstract = {In regards to a report by CNN, Nigeria has the highest statistics of Individuals inhabiting and dwelling in abject poverty with an approximated 86.99 Million Citizens of Nigeria inhabiting on less than $1.90 per day. Also, Foreign Investors are withdrawing their businesses and projects across the Nations. It is attested that as of September 24th 2018, International Investors withdrew almost 435.4 Billion from the Stock Market as a result of the Poor and Weak Policy disagreements between International Traders and the Governments. This Research Paper evaluated the factors that affects and influences foreign trade activity in Nigeria. Some recognized factors entail trade policy, political instability, corruption, demand, inflation, foreign currency reserves and exchange rate. Solutions to the recognized factors were provided at the end of the research study. Past research studies were evaluated and the generated conceptual framework was focused on past discoveries and findings. Recommendations for Implementation of this Research Study on International Business Managers, Investors, Domestic Entrepreneurs as well as Nigerian Government in Charge of International Trades have also been emphasized along with treasured and practical recommendations for Central Bank of Nigeria (CBN) and International Investors. The Research Paper submits and presents that the International Trade Pattern of Nigeria does not adapt and align to the global standard policy which influences and affect foreign trade. Amongst others, it was suggested that the Nigeria State/Government needs to come up with a strategy and plan where trade policy, terrorism and corruption should be eradicated and amended so as to attain to the global standard.},
 year = {2022}
}

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TY  - JOUR
T1  - Factors Affecting International Trade Activity in Less Developed Nations: Nigeria as a Case Study
AU  - Tochukwu Benedict Ezeifekwuaba
Y1  - 2022/06/08
PY  - 2022
N1  - https://doi.org/10.11648/j.sr.20221003.13
DO  - 10.11648/j.sr.20221003.13
T2  - Science Research
JF  - Science Research
JO  - Science Research
SP  - 69
EP  - 80
PB  - Science Publishing Group
SN  - 2329-0927
UR  - https://doi.org/10.11648/j.sr.20221003.13
AB  - In regards to a report by CNN, Nigeria has the highest statistics of Individuals inhabiting and dwelling in abject poverty with an approximated 86.99 Million Citizens of Nigeria inhabiting on less than $1.90 per day. Also, Foreign Investors are withdrawing their businesses and projects across the Nations. It is attested that as of September 24th 2018, International Investors withdrew almost 435.4 Billion from the Stock Market as a result of the Poor and Weak Policy disagreements between International Traders and the Governments. This Research Paper evaluated the factors that affects and influences foreign trade activity in Nigeria. Some recognized factors entail trade policy, political instability, corruption, demand, inflation, foreign currency reserves and exchange rate. Solutions to the recognized factors were provided at the end of the research study. Past research studies were evaluated and the generated conceptual framework was focused on past discoveries and findings. Recommendations for Implementation of this Research Study on International Business Managers, Investors, Domestic Entrepreneurs as well as Nigerian Government in Charge of International Trades have also been emphasized along with treasured and practical recommendations for Central Bank of Nigeria (CBN) and International Investors. The Research Paper submits and presents that the International Trade Pattern of Nigeria does not adapt and align to the global standard policy which influences and affect foreign trade. Amongst others, it was suggested that the Nigeria State/Government needs to come up with a strategy and plan where trade policy, terrorism and corruption should be eradicated and amended so as to attain to the global standard.
VL  - 10
IS  - 3
ER  -

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Author Information

Tochukwu Benedict Ezeifekwuaba

Finance, University of Lagos, Lagos, Nigeria

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Plain Text BibTeX RIS

APA Style

Tochukwu Benedict Ezeifekwuaba. (2022). Factors Affecting International Trade Activity in Less Developed Nations: Nigeria as a Case Study. Science Research, 10(3), 69-80. https://doi.org/10.11648/j.sr.20221003.13

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ACS Style

Tochukwu Benedict Ezeifekwuaba. Factors Affecting International Trade Activity in Less Developed Nations: Nigeria as a Case Study. Sci. Res. 2022, 10(3), 69-80. doi: 10.11648/j.sr.20221003.13

Copy | Download

AMA Style

Tochukwu Benedict Ezeifekwuaba. Factors Affecting International Trade Activity in Less Developed Nations: Nigeria as a Case Study. Sci Res. 2022;10(3):69-80. doi: 10.11648/j.sr.20221003.13

Copy | Download

@article{10.11648/j.sr.20221003.13,
  author = {Tochukwu Benedict Ezeifekwuaba},
  title = {Factors Affecting International Trade Activity in Less Developed Nations: Nigeria as a Case Study},
  journal = {Science Research},
  volume = {10},
  number = {3},
  pages = {69-80},
  doi = {10.11648/j.sr.20221003.13},
  url = {https://doi.org/10.11648/j.sr.20221003.13},
  eprint = {https://article.sciencepublishinggroup.com/pdf/10.11648.j.sr.20221003.13},
  abstract = {In regards to a report by CNN, Nigeria has the highest statistics of Individuals inhabiting and dwelling in abject poverty with an approximated 86.99 Million Citizens of Nigeria inhabiting on less than $1.90 per day. Also, Foreign Investors are withdrawing their businesses and projects across the Nations. It is attested that as of September 24th 2018, International Investors withdrew almost 435.4 Billion from the Stock Market as a result of the Poor and Weak Policy disagreements between International Traders and the Governments. This Research Paper evaluated the factors that affects and influences foreign trade activity in Nigeria. Some recognized factors entail trade policy, political instability, corruption, demand, inflation, foreign currency reserves and exchange rate. Solutions to the recognized factors were provided at the end of the research study. Past research studies were evaluated and the generated conceptual framework was focused on past discoveries and findings. Recommendations for Implementation of this Research Study on International Business Managers, Investors, Domestic Entrepreneurs as well as Nigerian Government in Charge of International Trades have also been emphasized along with treasured and practical recommendations for Central Bank of Nigeria (CBN) and International Investors. The Research Paper submits and presents that the International Trade Pattern of Nigeria does not adapt and align to the global standard policy which influences and affect foreign trade. Amongst others, it was suggested that the Nigeria State/Government needs to come up with a strategy and plan where trade policy, terrorism and corruption should be eradicated and amended so as to attain to the global standard.},
 year = {2022}
}

Copy | Download

TY  - JOUR
T1  - Factors Affecting International Trade Activity in Less Developed Nations: Nigeria as a Case Study
AU  - Tochukwu Benedict Ezeifekwuaba
Y1  - 2022/06/08
PY  - 2022
N1  - https://doi.org/10.11648/j.sr.20221003.13
DO  - 10.11648/j.sr.20221003.13
T2  - Science Research
JF  - Science Research
JO  - Science Research
SP  - 69
EP  - 80
PB  - Science Publishing Group
SN  - 2329-0927
UR  - https://doi.org/10.11648/j.sr.20221003.13
AB  - In regards to a report by CNN, Nigeria has the highest statistics of Individuals inhabiting and dwelling in abject poverty with an approximated 86.99 Million Citizens of Nigeria inhabiting on less than $1.90 per day. Also, Foreign Investors are withdrawing their businesses and projects across the Nations. It is attested that as of September 24th 2018, International Investors withdrew almost 435.4 Billion from the Stock Market as a result of the Poor and Weak Policy disagreements between International Traders and the Governments. This Research Paper evaluated the factors that affects and influences foreign trade activity in Nigeria. Some recognized factors entail trade policy, political instability, corruption, demand, inflation, foreign currency reserves and exchange rate. Solutions to the recognized factors were provided at the end of the research study. Past research studies were evaluated and the generated conceptual framework was focused on past discoveries and findings. Recommendations for Implementation of this Research Study on International Business Managers, Investors, Domestic Entrepreneurs as well as Nigerian Government in Charge of International Trades have also been emphasized along with treasured and practical recommendations for Central Bank of Nigeria (CBN) and International Investors. The Research Paper submits and presents that the International Trade Pattern of Nigeria does not adapt and align to the global standard policy which influences and affect foreign trade. Amongst others, it was suggested that the Nigeria State/Government needs to come up with a strategy and plan where trade policy, terrorism and corruption should be eradicated and amended so as to attain to the global standard.
VL  - 10
IS  - 3
ER  -

Copy | Download