Business Commons^™

Trends In Nigeria's Balance Of Payments (1980 - 1994), E. U. Olisadebe

Economic and Financial Review

This paper examines trends in Nigeria's balance of payments. Factors which have contributed to the continuous weakness of Nigeria's balance of payments include the poor performance of non-oil exports, fluctuations in crude oil prices, payments for the provision of international services, e.g., shipping, insurance, tourism, the low level of income from direct Nigerian investments abroad and high debt service payments. More fandamental problems underlie these factors.' a hostile international environment; a deterioration in terms of trade; a huge external debt servicing; slippages in fiscal and monetary policies and inappropriate exchange and interest rate policies. The failure of policy reforms to …