Unceasing import substitution policy worsens Nigeria’s economic woes

The value of total imports into the country in 2016 was N8.81 trillion.

Faced with spiraling inflation, a weak currency due to a high import bill incurred by Nigerians and low non-oil export, the Nigerian government for decades has resorted to an import substitution policy geared primarily towards curtailing a dependency on foreign products using a host of restrictive p

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