Unceasing import substitution policy worsens Nigeria’s economic woes (Business Day)

Business Day (Nigeria) published an article stating that facing spiraling inflation, a weak currency due to a high import bill, the Nigerian government for decades has resorted to an import substitution policy geared primarily towards curtailing a dependency on foreign products using a host of restrictive policy tools. IFPRI says that “Nigeria’s border crisis continues to disrupt African trade relationships and ongoing negotiations.”