Import Bans as an Element of Nigerian Trade Policy, a Failed Approach
NAVAL WAR COLLEGE NEWPORT RI JOINT MILITARY OPERATIONS DEPT
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This paper examines the impact of the prohibited import list as a part of Nigerian trade policy. Since their adoption in the mid 1970s, the import bans have directly contributed to a higher cost of living, created incentives for smuggling and corruption, and reduced the number of goods available to the consumer. By removing the bans and replacing them with tariffs comparable to similar products, Nigeria will reduce smuggling and customs corruption incentives, reduce the cost of living for all Nigerians, effectively bring 4.1 million Nigerians above the poverty line, and increase legal revenues for the government. The net result will contribute to a more stable and secure Nigeria.
- Economics and Cost Analysis
- Government and Political Science
- Sociology and Law