A Critical Analysis of the Insitutional Outcomes of Nigerias Economic Diplomacy

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Fasunwon Adebayo Folorunso
Fasunwon Adebayo Folorunso
1 Adekunle Ajasin University, Akungba, Nigeria.

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Economic Diplomacy was used as a an instrument of foreign policy execution in Nigeria with the aim of achieving national development. This study, while using the political economy approach therefore, investigated the institutional outcomes of this instrument in areas of debt management, Gross Domestic Product (GDP employment, and external reserves. Secondary sources of data which include publications of Central Bank of Nigeria, Africa Peer Review Mechanism country report and press reports were used to critically analyse the observed institituional outcomes of economic diplomacy. Economic diplomacy resulted in reduced debts, increases in the nation’s GDP, and external reserves. However, the level of poverty and unemployment was not positively affected by economic diplomacy. This study therefore recommends that subsequent employment of economic diplomacy should be targeted at the substantial improvements of the peoples’ socio-economic status.

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No external funding was declared for this work.

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The authors declare no conflict of interest.

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Fasunwon Adebayo Folorunso. 2015. \u201cA Critical Analysis of the Insitutional Outcomes of Nigerias Economic Diplomacy\u201d. Global Journal of Human-Social Science - F: Political Science GJHSS-F Volume 15 (GJHSS Volume 15 Issue F1): .

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GJHSS Volume 15 Issue F1
Pg. 25- 32
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Crossref Journal DOI 10.17406/GJHSS

Print ISSN 0975-587X

e-ISSN 2249-460X

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February 21, 2015

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Economic Diplomacy was used as a an instrument of foreign policy execution in Nigeria with the aim of achieving national development. This study, while using the political economy approach therefore, investigated the institutional outcomes of this instrument in areas of debt management, Gross Domestic Product (GDP employment, and external reserves. Secondary sources of data which include publications of Central Bank of Nigeria, Africa Peer Review Mechanism country report and press reports were used to critically analyse the observed institituional outcomes of economic diplomacy. Economic diplomacy resulted in reduced debts, increases in the nation’s GDP, and external reserves. However, the level of poverty and unemployment was not positively affected by economic diplomacy. This study therefore recommends that subsequent employment of economic diplomacy should be targeted at the substantial improvements of the peoples’ socio-economic status.

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A Critical Analysis of the Insitutional Outcomes of Nigerias Economic Diplomacy

Fasunwon Adebayo Folorunso
Fasunwon Adebayo Folorunso Adekunle Ajasin University, Akungba, Nigeria.

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