THE EFFECTS OF THE RUSSIA AND UKRAINE WAR ON NIGERIA INTERNATIONAL TRADE

Abstract

This study examined the effects of the Russia and Ukraine war on Nigeria international trade. It focuses on how the Russian and Ukrainian war has affected Nigerian international trade and economic activities. To guide this study, three research questions were raised in line with the objectives of the study. Relevant literature by scholars in agreement with the objectives of the study were reviewed. This study is historical in nature hence it adopted descriptive method of data collection. Data were collected from secondary sources, such as books, journal articles, magazines, internet sources, international and national conference proceedings, published and unpublished articles. The study employed annual data spanning from 2014 to 2022 to uncover the impact of the Russian-Ukrainian war on trade relations extracted from the World Development Indicators (WDI). Data gathered wereanalysed qualitatively using the content analysis in examining the various issues that were raised in the study. The findings of this study indicated that the Russia-Ukraine conflict has led to global supply chain disruption, increased energy costs, increased fuel imports and subsidy bills, government fiscal operations, the smuggling of petroleum products on the decreased wheat export from the region. It also revealed that the war had both positive and negative effects on Nigeria’s international trade, including a decline in Nigeria-Russia trade, soaring food prices, increased crude oil prices and changes in oil production structure. That Nigeria has also diversified trade attention to other suppliers of agricultural products such as Poland and Canada and has extended ties with Poland and trade with Canada, the United States and Brazil for wheat and other agricultural products. On the strength of the above findings, the researcher recommend that policymakers must begin to focus on alternative means of subsistence in the event that Russia decides to respond by punishing the rest of the world through export restrictions and that Policy makers and national stakeholders should support domestic production of essential commodities imported from Russia and even from Ukraine.