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Bullion

Keywords

Economic cooperation, Nigerian economy

Abstract

The economy is characterized by low industrial development, predominantly poor population and low agricultural production. The paper presents an analysis of the present size and structure of the Nigerian Domestic market, examine the patterns of trade among states and zones, and consider what needs to be done to improve the domestic trade system and enable it play its appropriate role in the overdue of transformation of the Nigerian economy. Finally, the study reveals that economic development of any state or group of states can be improved if they take advantage of economic integration. The relatively low level of economic development and the less internationally competitive industries should encourage states to intergrate in a way that will assure the highest benefits to their economy. interstate cooperation can be beneficial if the parties to the union have both political and economic incentives to cooperate. When both factors are present a mutually beneficial cooperation will emerge.

Author Bio

The author is a staff of University of Nigeria, Enugu Campus, Nigeria.

Publication Title

CBN Bullion

Issue

3

Volume

24

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