An examination of economic resilience determinants in Nigeria in the face of global shocks: Evidence from Abuja (2000–2020)
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Background of the Study :
Economic resilience refers to an economy’s ability to withstand and recover from external shocks such as global financial crises, commodity price fluctuations, and geopolitical instability. In Nigeria, economic resilience has become increasingly critical given the volatility of global markets. Abuja, as the capital and a central hub of policy formulation, offers a unique perspective on how resilience determinants operate. Between 2000 and 2020, government policies, fiscal measures, and institutional reforms have aimed to enhance Nigeria’s capacity to absorb shocks and sustain growth (Okonkwo, 2023). Factors such as diversification of the economy, robust financial systems, and effective governance structures are crucial to building resilience (Adeniyi, 2024). However, challenges remain in the form of overdependence on oil revenues, infrastructural deficits, and policy inconsistencies that undermine resilience. This study examines the key determinants of economic resilience in Nigeria using data from Abuja, analyzing the interplay between policy measures, economic diversification, and institutional capacity to manage global shocks (Chukwu, 2025).
Statement of the Problem
Nigeria’s economy remains vulnerable to global shocks despite various policy measures intended to enhance resilience. Overdependence on oil exports, combined with infrastructural and governance challenges, has limited the country’s ability to recover from external disturbances. In Abuja, the gap between resilience policy objectives and actual economic outcomes is evident, with periods of severe volatility undermining sustainable growth. This study aims to identify the critical factors that determine economic resilience and assess the effectiveness of current measures in mitigating global shocks. Addressing these issues is vital for developing strategies that strengthen Nigeria’s overall economic stability (Okonkwo, 2023; Adeniyi, 2024).
Objectives of the Study:
1. To identify key determinants of economic resilience in Nigeria.
2. To assess the effectiveness of resilience-enhancing policies in Abuja.
3. To propose strategies for strengthening economic resilience.
Research Questions:
1. What are the main determinants of economic resilience in Nigeria?
2. How effective are current policies in enhancing resilience in Abuja?
3. What measures can improve Nigeria’s ability to withstand global shocks?
Research Hypotheses:
1. H1: Economic diversification positively affects resilience.
2. H2: Strong institutional frameworks enhance economic stability.
3. H3: Policy consistency improves recovery from global shocks.
Significance of the Study (100 words):
This study investigates the determinants of economic resilience in Nigeria, providing insights for policymakers on enhancing the nation’s capacity to absorb global shocks. The findings will support the development of robust policy measures that promote sustainable growth and stability, contributing to a more resilient economic environment in Abuja and beyond (Chukwu, 2025).
Scope and Limitations of the Study:
The study is limited to evaluating determinants of economic resilience in Nigeria using evidence from Abuja, focusing on policy and economic indicators.
Definitions of Terms:
1. Economic Resilience: The ability of an economy to recover from external shocks.
2. Global Shocks: External events that significantly disrupt economic stability.
3. Abuja: Nigeria’s capital, serving as the focal area for the study.
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