Enhancing global competitiveness of the Nigerian economy: Implications for multilateral trade

Trade is a vehicle of globalisation and an enhancer of global competitiveness. This paper has examined Nigeriaʹs global competiveness ranking between 2001 and 2007, which has confirmed the countryʹs backbench position. The countryʹs global enabling trade index has also been reviewed. The paper observes that there is a strong link between Nigeriaʹs global enabling trade and global competitiveness rankings for the period under review. Efforts have been made to analyse the trend, composition and structure of Nigeriaʹs multilateral trade. This has revealed that the country is a weak partner in multilateral trade game-play. The implications of this condition have been discussed and recommendations are made to improve Nigeriaʹs global competitiveness through an enhancement of multilateral trade.