THE IMPACT OF NIGERIA’S FOREIGN POLICY ON ECONOMIC DEVELOPMENT 2015 – 2023

ABSTRACT This research explores the impact of Nigeria’s foreign policy on economic development from 2015 to 2023—a period marked by active diplomatic engagement and significant economic reforms.Adoptingaquantitativemethodology,thestudyanalyzesstatisticaldataincludingtrade volumes, foreign direct investment (FDI) inflows, bilateral agreements, and key economic indicators such as GDP growth, inflation, and employment trends. The research evaluates how Nigeria’sforeignpolicystrategies—particularlyeconomicdiplomacy,regionalcooperation,and participation in multilateral organizations—have influenced national economic performance. Empirical findings indicate a positive relationship between proactive foreign policy initiatives and increased FDI, particularly in the oil and gas, manufacturing, and telecommunications sectors.ThestudyalsonotestheeconomicgainsderivedfromNigeria’sinvolvementinregional and international bodies such as ECOWAS and the African Continental Free Trade Area (AfCFTA). Nevertheless, challenges such as inconsistent policy implementation, insecurity, and governance deficits have constrained the full realization of these benefits. Theoretical perspectives from Liberalism, Realism, Dependency Theory, and Economic Interdependence Theory are employed to analyze the complex relationship between foreign policy and economic outcomes. While the study concludes that Nigeria’s foreign policy has played a significant role inpromotingeconomicgrowth,itemphasizestheneedforgreaterpolicycoherence,institutional capacity, and economic diversification to achieve sustainable development. Key recommendations include strengthening diplomatic institutions, ensuring consistent foreign policy direction, and deepening integration into the global economy to optimize the developmental impact of foreign engagements.