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ABSTRACT
The focus of the study is on the effect of exchange rate on economic growth in Nigeria. The study adopted the Ex-Post-facto and longitudinal research design methods. The outcome of the study revealed that exchange rate negatively and insignificantly affects economic growth in Nigeria; there was a positive and significant relationship between inflation rate and economic growth in Nigeria; the study also show that an insignificant negative relationship between trade openness and economic growth in Nigeria and a statistically significant and negative relationship between foreign direct investment and economic growth in Nigeria. The study however recommends that efforts should be directed towards improving the investment climate by addressing issues related to infrastructure, security, and regulatory transparency and encourages foreign direct investment in sectors that have a positive spillover effect on the broader economy, such as technology and manufacturing that can boost economic growth despite the negative impacts. Although the study show an insignificant negative relationship between trade openness and economic growth, it is essential for government to reevaluate its trade policies and policymakers should focus on creating a more favorable trade environment that promotes exports, reduces trade barriers, and attracts foreign investment.
