Trade Trend and Sustainable Development in Nigeria

Trade is an activity considered as a medium to growth and development, as well as providing income to both individuals and investors. Given the major objective of investors to make profit and individuals to earn a living, has trade pattern in Nigeria been tailored towards achieving the recent cry for sustainable development? In this regard, this study investigates symmetric and asymmetric impact of trade on sustainable development in Nigeria. The study used data spanning from 1981-2017 and employed ARDL and NARDL econometric techniques for its analysis. From the result, it was confirmed that the symmetric impact of trade trend on sustainable development is negative and insignificant, while the asymmetric impact of both positive and negative changes in trade due to trade policy reviews on sustainable development are positively insignificant. The study concludes from the findings that trade trend in Nigeria does not flow in the direction of sustainable development achievement. Therefore, for sustainable development to be achieved as planned, there is need for the policymakers to consider free trade policies that will accommodate the objectives of sustainable development goals in Nigeria.