An Analysis of Nigeria – United States Trade and Investment Relations, 2004 - 2012

Abstract:

Bilateral relations as a tool for economic cooperation and development have become an important feature of the contemporary international system. Nigeria and the United States have had a long history of bilateral relations, which has defined trade and investment relations. This study therefore examines Nigeria-United States trade and investment relations between 2004 and 2012. The study adopted the qualitative method of research with complex interdependence theory serving as the theoretical framework of analysis. The findings revealed that Nigeria’s trade with the United States has been dominated by oil. It also shows that Nigeria’s bilateral relations with the United States have not led to increase in United States investments in the non-oil sector of the Nigerian economy. It further demonstrated that Nigeria’s compliance with AGOA eligibility clause has not increased the volume of Nigeria’s textile export to the United States. It therefore concluded that the non-oil sector of the Nigerian economy has not benefited from her trade and investment relations between 2004 and 2012 despite the avalanche of bilateral and multilateral instruments to enhance economic cooperation and development. The study therefore recommends good governance and visionary leadership as a panacea for overcoming the challenges that have hindered Nigeria from maximizing benefits in her relations with the United States.