Economic Protectionism

Last updated on
February 17, 2022

Economic protectionism is the government practice of adhering to protectionist trade policies. A protectionist trade policy enables a country's government to promote domestic producers and thus boost domestic production of goods and services by imposing tariffs or otherwise restricting foreign goods and services in the marketplace.

Nigerian Context

Nigeria's trade and industrial policies follow a consistent and predictable pattern. To address the problems of import and oil dependency, successive Nigerian governments have used protectionist measures such as border closure like that of the 2019 land border closure, import restrictions, and exchange controls for decades.

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