RUSSIA-UKRAINE WAR IMPLICATION ON NIGERIA’S ECONOMY

Abstract

Conflict has ruled the trajectory of the human race over the years, as human existence has never been free from conflict but has been mitigated in most cases. The paper examined Russia-Ukraine conflict: implication on Nigeria’s Economy. Russia idea of initiating a military operation in Ukraine in February 2022 was as a strong warning to the world over Russia's resistance to NATO's expansion against Russia and Ukraine's plans to join NATO in the future. While Russia and Ukraine's war rages, it has had devastating effects on the human population, with the situation being particularly dire in Africa. Russia-Ukraine crisis have exposed the vulnerability of the African economy, especially in countries such as Nigeria that depend heavily on imports of wheat products, which is the country's third most widely consumed grain. Consequently, the System Theory used for this study views the entire globe as a system in which the distortion of one component might have positive or negative effects on other components. The study explores secondary data, such as published articles from journals, magazines, newspapers, media sources, government speeches, and so on. The data were examined qualitatively, with figures provided where needed. As with any misfortune that catches Nigeria off guard, the war has exposed Nigeria's reliance on the outside world for essential staple foods such as wheat products. Bread, pasta, noodles, spaghetti semolina, etc., are among the most threatened wheat flour-based foods in the country, which already faces numerous risks to its food security. Thus, the study suggests that Nigeria as an independent identity must tackle its reliance on imported food and other structural issues, as well as establish long-term resilience to food shortages as well as other stocks.