An assessment of foreign trade policies’ economic implications on domestic industries in Nigeria: Evidence from Lagos State (2000–2020).
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Background of the study
Foreign trade policies, including tariffs, quotas, and trade agreements, play a critical role in shaping the domestic economic landscape. In Lagos State, the Ministry of Trade and related agencies have implemented a series of policies between 2000 and 2020 aimed at balancing protectionism with the need for global market integration. These policies are designed to safeguard domestic industries while also encouraging competitiveness and technological advancement through exposure to international markets (Ibrahim, 2023). Evidence indicates that well-crafted trade policies can stimulate domestic production, increase export potential, and attract foreign investment. However, overly restrictive measures or poorly implemented policies can lead to reduced competitiveness, higher production costs, and market distortions (Chinwe, 2024; Oluwaseun, 2023). The dynamic interplay between protectionist measures and global market pressures has significant implications for the performance of domestic industries. This study assesses the economic implications of foreign trade policies on Nigeria’s domestic industries in Lagos State, analyzing both the benefits and the constraints imposed by these policies.
Statement of the problem
Despite efforts to balance protection and competitiveness, foreign trade policies in Lagos State have had mixed economic implications for domestic industries. Inconsistent policy implementation, regulatory ambiguities, and external market pressures have sometimes resulted in reduced competitiveness and inefficiencies in domestic production (Ibrahim, 2023; Chinwe, 2024). These challenges impede industrial growth and limit the potential benefits of trade liberalization. This study aims to identify the key economic implications of current trade policies and propose strategies to mitigate negative impacts while maximizing benefits for domestic industries.
Objectives of the study:
- To assess the economic impact of foreign trade policies on domestic industries.
- To identify challenges affecting industrial competitiveness.
- To recommend policy measures to improve trade outcomes.
Research questions:
- How do foreign trade policies affect domestic industries in Lagos State?
- What are the primary challenges impacting competitiveness?
- What policy reforms can enhance economic benefits?
Research Hypotheses:
- Foreign trade policies have a significant impact on domestic industrial performance.
- Regulatory inconsistencies negatively affect competitiveness.
- Targeted reforms can enhance domestic industrial growth.
Significance of the study
This study is significant as it examines the economic implications of foreign trade policies on domestic industries in Lagos State. The findings will help policymakers refine trade measures to foster a more competitive industrial sector, ultimately contributing to sustainable economic growth and increased global market integration (Ibrahim, 2025).
Scope and limitations of the study:
This study is limited to evaluating the economic impact of foreign trade policies on domestic industries in Lagos State, focusing on policy effects and industrial competitiveness.
Definitions of terms:
- Foreign Trade Policies: Regulations and agreements governing international trade.
- Domestic Industries: Local production sectors operating within a country.
- Competitiveness: The ability of industries to compete effectively in both domestic and international markets.
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