LIST OF REASONS

In recent years, economic analysts have increasingly voiced concerns over Nigeria’s heavy reliance on imports , arguing that the country must redirect its focus towards enhancing local production capabilities to secure a more robust and self-sustaining economy. The debate surrounding the effects of imports, exports, and the trade balance on a nation’s economic health is complex and multifaceted, incorporating a spectrum of positive and negative impacts that affect both consumers and domestic industries. At the heart of this discussion is the recognition that while imports can enrich the domestic market by providing consumers with a greater variety of goods, often at competitive prices, they can simultaneously undermine the growth of local industries if overused or mismanaged. Imports bring with them a range of benefits that are difficult to overlook. They offer access to products and technologies that may not be readily available within the country, enabling consumers to enjoy a diver...