Thesis Abstract

Economic diplomacy plays a crucial role in the conduct of Nigeria's external relations, especially in fostering economic growth and development. This research project focuses on analyzing the impact of the National Economic Empowerment and Development Strategy (NEEDS) on Nigeria's economic diplomacy efforts. The NEEDS was introduced in 2004 as a comprehensive framework for poverty reduction, economic growth, and sustainable development. The study employs a qualitative research approach, utilizing document analysis and case studies to examine the implementation of NEEDS in the context of Nigeria's external relations. By exploring the alignment between economic diplomacy objectives and the goals of the NEEDS, the research aims to assess the effectiveness of Nigeria's economic diplomacy strategies in promoting the country's economic development agenda. Through a critical analysis of government policies, bilateral and multilateral agreements, and diplomatic engagements, the research seeks to identify the strengths and weaknesses of Nigeria's economic diplomacy initiatives within the framework of the NEEDS. By assessing the extent to which economic diplomacy has contributed to the implementation of the NEEDS objectives, the study provides insights into the challenges and opportunities facing Nigeria in leveraging its external relations for economic development. The findings of this research have implications for policymakers, diplomats, and development practitioners seeking to enhance Nigeria's economic diplomacy efforts. By identifying areas of improvement and best practices, the study offers recommendations for aligning economic diplomacy strategies with the objectives of the NEEDS to maximize the impact of Nigeria's external relations on economic development outcomes. Overall, this research contributes to the existing literature on economic diplomacy and development strategies in Nigeria, offering a comprehensive analysis of the role of economic diplomacy in advancing the country's economic empowerment and development goals. By shedding light on the nexus between economic diplomacy and the NEEDS framework, the study provides valuable insights for policymakers and practitioners working to strengthen Nigeria's position in the global economy and promote sustainable development through effective external relations.

Thesis Overview

The study examined the nexus between economic diplomacy and conduct of Nigeria’s external relations with emphasis on the National Economic Empowerment and Development Strategy (NEEDS). The broad objective of this study was to examine how the use of economic diplomacy helped in the implementation of the National Economic Empowerment and Development Strategy; and the implication for sustainable development of Nigeria. The central thesis of this study was that the use of economic diplomacy in the conduct of Nigeria’s external relations is pronounced each time the political leadership is desperately pursuing received development model from advanced capitalist economies. The study was based on survey research design. Particularly, we adopted trend pattern of longitudinal research design. We adopted secondary source of data collection and hence, relied more on library materials and relevant primary documents from the World Bank, International Monetary Fund, Ministry of Foreign Affairs, and Nigerian Institute of International Affairs. We also relied on materials from United Nations International Development Organization, United Nations Development Programme, United Nations Educational Scientific and Cultural Organization and internet materials. Content analysis of texts, journals, seminars/conference papers, official publications, magazines, newspapers and other published and unpublished materials were effectively utilized. We adopted a logical data framework which enabled us use some basic propositions emanating from the Marxian political economy paradigm to analyze our data. The findings of this study revealed that the economic diplomacy of National Economic Empowerment and
Development Strategy did not reduce the incidence of poverty in Nigeria. Secondly, the study revealed that economic diplomacy of National Economic Empowerment and Development Strategy did not reduce the incidence of unemployment in Nigeria. Again, the study revealed that economic diplomacy of National Economic Empowerment and Development Strategy remarkably enhanced the inflow of foreign direct investment from advanced capitalist economies to Nigeria. Finally, the study revealed that the economic diplomacy of National Economic Empowerment and Development Strategy was responsible for the debt relief extended to Nigeria by international financial institutions. The study recommended among others, a pro-active foreign policy of economic diplomacy that will enhance sustainable development of Nigeria.