by Fred Nwaozor Overview of Nigeria’s International Trade System Nigeria’s international trade system is a critical component of the nation’s economy, linking the country to global markets. The system encompasses exports, imports, foreign direct investments, trade agreements, and regulatory frameworks designed to facilitate cross-border commerce. Traditionally, Nigeria’s trade has been heavily dependent on oil exports, which account for a significant portion of its foreign exchange earnings. However, diversification into agriculture, manufacturing, and services has increasingly become a priority. Trade Composition and Trends The composition of Nigeria’s trade portfolio has historically been skewed, with crude oil dominating exports while machinery, electronics, and manufactured goods constitute the bulk of imports. This imbalance has led to persistent trade deficits in certain sectors. Recent trends indicate an increasing push toward exporting non-oil products such as cocoa,...