International Journal of Foreign Trade and International Business
2022, Vol. 4, Issue 1, Part A
An assessment of Nigeria’s engagement with developing eight countries (D8) in the fourth republic, 1999-2019
Nigeria has actively participated in the D8 from 1997 to date (2019). The country was dragged into an almost Islamic country dominated trans-regional economic organization by the Abacha military dictatorship. In spite of its active participation in the D8, the expected economic benefit derivable for expanding the country’s foreign revenue sources is yet far from being realized. It is for this reason that the study is embarked upon to unearth what is preventing the country from achieving this lofty ideals. The study is a qualitative one where document studies was adopted for generating data from secondary sources such as textbooks, academic journals, magazines, newspapers and internet facilities. Data generated was, analyzed through descriptive method. Recommendations were, proffered at the end of the study towards making Nigeria reap greatest benefit from this interdependent trans-regional economic relation. The theory of interdependence was, clarified and adopted as a framework for this study. Recommendations were advanced for making Nigeria reap optimal benefits from the D8; among which is the need for the political leadership to re-direct all resources at its disposal for the local manufacture of unique products in which the country has comparative competitive advantage among members. This will afford her the singular opportunity to export these goods in the markets of member countries thereby expanding the country’s foreign revenue sources.