Foreign Trade and National Security Strategies in Nigeria: A Theoretical Perspective.

Abstract

The study appraised the impact of national Security Strategies on Foreign Trade growth using theoretical perspectives. The gravity theory of trade and David Ricardo’s theory of comparative cost advantage provided the relevant theoretical foundations. The study reviewed Nigeria’s data relating to security expenditure and foreign trade and agrees that while countries should be encouraged to engage in trade, by exporting cost advantageous goods and services and importing cost disadvantageous products and services that these will only thrive in an environment of peace and safety. The study concludes that peace is a panacea to economic development and foreign trade growth and recommends the rejigging of the country’s security apparatus and architecture in line with international best practice and standards; Compliance with relevant World trade Organization agreements; and provision of conducive trading and investment environments.