ABSTRACT
This study is an assessment of the trade relations between Nigeria and China as it affects the Nigerian economy with specific reference to its impact on the performance of Micro, Small and Medium Enterprises (MSMEs) in Nigeria. The objectives were to examine the nature of trade between Nigeria and China for the period (2012-2022), to assess the economic impact of this trade relations on the Nigerian economy and to proffer possible solutions on how Nigeria – China trade relations can be improved upon. Using case study research design, the study assessed the impact of Nigeria-China trade relations on the performance of MSMEs in the country using a population of 6853 and a sample size of 55. Interview was conducted by administering a set of open – ended semi – structured questions to respondents purposively selected among staffers of federal ministries, agencies, parastatals, banks and regulatory associations that interface on Nigeria-China trade relations. Secondly, descriptive statistics was used to analyze data collected from databases of certified statistical bodies warehousing trade data at international, regional and national levels. The assessment revealed that the trade relations between Nigeria and China are having an adverse effect on the growth, development, expansion and consolidation of local industries in the country. Despite being a critical sector of the economy, the Nigerian MSMEs have not been able to rise up to it responsibility as the engine room of Nigeria’s industrial growth. There is high level of unemployment (33.3%). There is high level of import dependence because of the leaders’ inability to diversify the economy from monoproduct (crude oil), and make substantial contribution to the economy, especially, in the area of producing manufactured goods for both export and local consumptions. The study made a set of recommendations from the findings. These include (i) government intervention in the protection and development of MSMEs in the country, (ii) government stronger control of the influx of manufactured goods into the country as against unchecked trade liberalization, (iii) implementation of goal-oriented trade policies should be the focus of government henceforth. Also, (iv) holistic approach to corruption elimination in the international trade process is another way forward, (v) Nigerian government in collaboration with local entrepreneurs need to show more commitment to the pursuance of industrialisation and economic diversification and (vi) officials responsible Nigerian international trade conduct should be men and women with requisite knowledge and expertise needed for the job. Key Words: China, Economy, Impact Assessment, Nigeria, MSMEs, Trade.
