NIGERIA’S FOREIGN POLICY AND ECONOMIC GROWTH. AN ASSESSMENT (2015-2019)

Abstract

The practice and idea of foreign policy dates back to antiquity. The waves of globalization and increasing interdependence among nations has increased the frontiers of foreign policy with the state continued relevance as the dominant major actor in international politics. On ascension to power, the Buhari-led administration was faced with several challenges that have hindered economic prosperity, sustainable security and overall national development in Nigeria. These challenges includes but are not limited to terrorism, violent conflicts, dwindling oil revenues, widespread poverty, youth unemployment, and corruption. The objective of this study is to examine Nigeria foreign policy and economic growth an assessment of (2015-2019). The research utilizes both primary and secondary data from journals, books, newspapers, government reports among others. The findings of the study shows that Buhari led government is able to create friendly relations with ECOWAS member nations, maintained good relations with UK and US, and improve the countries relations with China to improve the country’s economy.

CHAPTER ONE

INTRODUCTION

1.1. BACKGROUND OF THE STUDY

Foreign policy constitutes a critical component of a country’s conduct of public policy as it relates to other actors (both state and non-state) in the larger international system or the external environment. As a result of the importance of foreign policy in a country’s agenda, consideration must therefore, be given to all the important actors on the international scene that affect the policy-making and implementation processes of the country concerned. The policy decisions include relations with other nations, international and non-governmental organizations, institutions and agencies, as well as key individuals, in so far as they impact on the system of inputs and outputs. The dynamics of policy choice that entail the processes of formulation and implementation, sometimes conflicting, other times cordial, determine the character, content, direction and the possible impact of the country’s foreign policy (Fayomi et al, 2015). Rosemary (2003) argues that since the independence of Nigeria three major factors were identified as being key determinants in Nigeria’s foreign policy formulation: first the country’s economy; second, the personality and character of leadership crew and their perceptions of how to nurse and revive the economy; and third, the issue of ethno-religious diversity within a federal context, which more often than not makes consensus or rational issues difficult to achieve (Patrick, 2008). The foreign economic relations of a country are often triggered by the need to obtain some of the resources which it desires for its well-being, but which lie outside its territories. As a result, states design their foreign policies to attract these limited resources. Independent states do not just compete but also maximize each other in pursuit of their national interests to secure adequate security and prosperity for their citizens. Reasonable co-operation is obtainable only when all parties get something for their people. The diplomatic team of various countries often engages in countervailing practices and horse-trading aimed at exploiting or even bypasses the international rules in order to apportion share of the global development dividends to their citizens. However, the tendency of foreign policies of the co-operating states to clash gives room for diplomacy as a veritable instrument for the accommodation and synchronization of such interests. The policies that drive and/or underpin the external economic relations of a country are founded on economic diplomacy. Nigeria’s foreign economic relations are essentially hinged on the structural tripod of external trade, foreign investment and debt management. As part of the planks of Nigeria’s foreign policy, “economic diplomacy” according to Omojuwa (2014) as cited in Omenma (2009) “aims at the diversification of Nigeria’s economic base, expansion of its international market, attraction of new foreign loans and foreign investments and the rescheduling/forgiveness of the nation’s external debt”. Thus, Nigeria’s foreign economic engagements since independence are poised to pursue an international economic regime that guarantees a favourable balance of trade, attraction of more FDIs and management of debts through debt refinancing, debt repudiation, debt rescheduling, debt restructuring, and debt conversion. Foreign policy is an essential tool with which states relate to states and non-states actors in the international system [Levy 2013; Igwe et al 2017]. The foreign policy is set of tools which are used to pursue and achieve country’s national interests. Foreign Policy of Nigerian state has continued to change under different governments and leaders. This is usually influenced by the type of government and to a great extent personality of the countries leader [Levy 2013], [Fawcett 2016], [Musa et al 2017].

From independence, where Nigeria sought after a non-aligned foreign policy during Prime Minister Tafawa Balewa regime, Under Yakubu Gowon 1966-1975 the country was affected with civil war, but his foreign policy was also Afrocentric in nature, Murtala Mohammed and Olusegun Obasanjo 1975-1979 the government went after a radical foreign policy which was targeted at liberation of African states from grip of apartheid and colonialism and reducing the influence of Western capitalist countries, Shehu Shagari 1979-1983 continued with the Afrocentric policy and also liberal policy, Muhammadu Buhari 1983-1985 chose to follow foreign policy of Murtala/Obasanjo foreign policy which was radical in nature. Ibrahim Babangida 1985-1993 foreign policy was seen mainly as pro-western countries which led to the acceptance of Structural Adjustment Programs and also its economic diplomacy, Sani Abacha 1993-2012 choose to pursue an isolation foreign policy which meant Nigeria had limited engagement with outside world. Olusegun Obasanjo 1999-2007 decided to re-open Nigeria to the world after isolation of Sani Abacha government, his foreign policy was hooked on shuttle diplomacy which was aimed at economic development, Umaru Musa Yar’Adua and Goodluck Jonathan 2007-2015 foreign policy was initiated and encourages relations with other countries around the world, and its policy was hinged on citizen diplomacy, Muhammadu Buhari 2015-Present foreign policy is also hooked on improving relations with neighbors and to maintain ties with the United States and China among other countries in the world. President Buhari assumed shuttle diplomacy between different countries immediately after assuming office in 2015 he was referred at as “Jet-Setting President”, this was attributed mainly to the fact he spent a quarter of first 100 days in office in different countries. The president upon inauguration assumed the responsibility of been countries chief diplomat and foreign policy officer to re-launch Nigeria into the international community. This is mostly attributed to the international environment Buhari found himself, this situation was characterized by dwindling oil prices, terrorism and counter-terrorism, nuclear deals and neo-liberalism among others [Aning 2017]. Hence the study examines the Nigeria’s foreign economic relations under President Mohammed Buhari administration (an analysis from 2015 – 2020).

1.2. STATEMENT OF PROBLEM

The goal of every foreign economic relation is to establish and maintain a cordial relationship with other nations as well as to build a good image for a nation and meet its national and domestic interests. This invariably means that a good foreign policy is important in formulating, maintaining and sustaining a nation’s positive image. However, Nigeria’s reputation is at very low ebb under the Muhammadu Buhari’s administrations. It is alleged that violent crimes is a bane of Nigeria’s development. The Boko Haram terrorism, the Niger Delta crises, and the IPOB agitations have earned Nigeria a place amongst the least safe countries of the world (Martin, 2016). The violent crimes perpetrated by these (and many other) groups have led to the death of over 1.3 million Nigerians and the displacement of over 20,000 people, pallid national integration, and ethno-religious chauvinism (Duke & Agbaji, 2017). Also, bedeviled by corruption and the maddening disregard for transparency and accountability, Nigeria‟s image tarnishes while she simultaneously loses huge foreign direct investments (FDI). Thus, the nation is unable to successfully combat internal insurrections and stands amongst nations with a smeared image of bad governance. This weakens the economy, increases insecurity and maladministration. It is against this backdrop that the study examines Nigeria’s foreign economic relations under President Mohammed Buhari administration (an analysis from 2015 – 2020).

1.3. AIMS OF THE STUDY

The major aim of the study is to examine Nigeria’s foreign policy and economic growth an assessment of 2015 – 2019. Other specific objectives of the study include;

1. To examine the structure of Nigeria’s foreign economic policies on economic development of Nigeria from 2015- 2019
2. To ascertain the relationship between Nigeria foreign policy and Nigeria economic growth from 2015-2019

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