The Impact of the Russian-Ukraine Conflicts on the Economy and Security of Nigeria, 2014-2023
Year: 2024
Type: article
Abstract: Geopolitical conflicts as we have it today is nothing new as it goes far back as the Napoleonic era.This phenomenon has become a constant feature of the modern geopolitics with its adverse effect not just limited to the immediate neighbouring states, but countries from other regions especially developing countries from Assia and Africa.The Russian Ukraine conflict which has made the whole Western and Eastern Europe economy become weak, as expected it did not exempt the economy of the developing countries such as Nigeria as a result of the country's dependency on importation.The Nigerian economy which was quite unstable after the COVID 19 pandemic began to battle with the consequences of the various economic sanctions and bans placed on Russia, and the economic damage of Ukraine who both are long term trade partners with Nigeria.This research would therefore examine the economic and security impact of the Russian-Ukraine conflict on Nigeria.This research paper discovered that despite the long distance of Eastern Europe from Nigeria, the nation's economy still took a huge blow of foreign trade disruption due to the ongoing conflict.The methodology is both analytical and expository.The study suggests that in an attempt to improve the Nigerian economy, increased input in the agricultural sector should be considered by the authorities to reduce the heavy reliance on foreign goods, also high production drive is needed within the local manufacturing sector of the economy as well as improved budgetary allocation to education.
Language: English
Topic: COVID-19 Pandemic Impacts
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: bronze
OpenAlex ID: W4406023293