A CRITICAL REVIEW OF THE IMPEDIMENTS TO INTERNATIONAL TRADE AGREEMENT AND DEVELOPMENT IN NIGERIA

Nothing absolutely can be done in the world we live today without an exchange of some sort. The exchange could be in technology, ideas, products or goods and services. This exchange of technology, ideas, products or goods and services is what is referred to as trade. Trade can be traced back to the barter system. In Nigeria, trade became more known and appreciated with the emergence of colonial rule which exposed the citizenry to the world of domestic and international transactions or trade. International trade has been an area of importance and interest to government policy makers and as well as economists. Its significance lies squarely and clearly on the ability to access goods and services which can only be manufactured at higher and greater expense. International trade also helps a country to sell her domestically manufactured products to other nations of the world. It is a vital catalyst for economic development. The healthiness of an economy in terms of growth rate or output and per capita income is not only based on the domestic transactions or trade, but also on international trade. That is why nations engage on international trade. However, Nigeria engagement in international trade and International trade agreements have not really led to economic development. The country, notably, has entered into many international trade agreements which ordinarily would have catapulted her to economic growth and development but unfortunately and sadly have not. This paper appraises the barriers to international trade agreements and development in Nigeria. The research methodology adopted in this work is doctrinal. The writer concludes that unless Nigeria becomes an equal partner in international trade agreements and shorn foreign aids, the country will never really gain meaningfully from her involvement in international trade and development.