Nigeria ranks among the poorest-performing countries in global trade, according to experts who say weak infrastructure, low production capacity and heavy reliance on oil exports continue to limit Africa’s largest economy.....KINDLY READ THE FULL STORY HERE▶

Analysts argue that Nigeria has failed to fully benefit from international trade despite its size, natural resources and large population of more than 200 million. They warn that unless urgent reforms are made, the country could continue to lose opportunities for growth and job creation.

According to a recent report from trade policy researchers, Nigeria lags far behind other emerging economies in manufacturing, export diversification and competitiveness. The country still relies heavily on crude oil for about 90 percent of its export earnings, leaving it vulnerable to global price swings.

“Trade is one of the strongest drivers of economic development, but Nigeria has not positioned itself to take advantage of it,” said Lagos-based economist Emmanuel Ojo. “We remain a consumer nation, importing more than we produce, and this is not sustainable.”

Experts point to poor infrastructure as a major obstacle. Nigeria faces chronic power shortages, inadequate transport networks and congested ports, all of which raise the cost of doing business. In addition, inconsistent trade policies and high tariffs discourage local industries from competing internationally.

The World Bank and other global institutions have repeatedly noted Nigeria’s weak performance in non-oil exports. Agricultural goods such as cocoa, sesame seeds and cashew nuts make up only a small fraction of earnings compared to oil. Even these products often suffer from quality control problems and poor processing facilities.

Nigeria’s position contrasts sharply with countries like Vietnam and Bangladesh, which have built strong export sectors in textiles, electronics and agriculture despite having smaller economies. Experts say Nigeria could learn from their strategies, especially in creating export zones, investing in value-added industries and building trade-friendly infrastructure.

“The problem is not lack of potential,” said Ojo. “Nigeria has fertile land, a young workforce and access to regional markets. But the system is weak, and without reforms, the gap with other countries will only grow wider.”

The African Continental Free Trade Area (AfCFTA), which began implementation in 2021, offers new chances for Nigeria to expand exports within Africa. But experts say the country has been slow to take advantage of the agreement due to domestic challenges and unclear trade strategies.

Some Nigerian business leaders also argue that government policies often favor imports over local production. They say heavy dependence on imported goods undermines industries such as textiles, food processing and machinery manufacturing.

“Every time you go to the market, most products are from China, India or Europe,” said Abuja trader Aisha Bello. “Nigerian-made goods are few, and when they exist, they are more expensive because producers face so many challenges.”

The government has acknowledged the problem and pledged to diversify the economy. Programs to support agriculture, small businesses and local manufacturing have been launched, but progress remains slow. Inflation, currency instability and insecurity in parts of the country have further weakened trade performance.

Economists warn that without bold reforms, Nigeria may continue to miss out on billions of dollars in trade opportunities. They call for investment in roads, railways and energy, as well as policies that encourage innovation and reduce bureaucracy.

“Nigeria cannot afford to remain at the bottom of global trade rankings,” said Ojo. “If we are serious about lifting people out of poverty, creating jobs and becoming a strong economy, trade must be at the center of national policy.”

For now, Nigeria’s trade outlook remains uncertain. The question is whether Africa’s most populous country can turn its potential into real economic power — or remain stuck as a nation rich in resources but poor in trade.