Free Trade Zones: A Strategic Evaluation of Nigeria Success (Failure) Story

Abstract

This paper represents a strategic evaluation of the performance of free trade zones in Nigeria. The paper used Krugman (1991) and Bergsten (1991) analysis on free trade zone to lay the theoretical argument for and against free trade zone. The study also reviewed Nigeria’s free trade regulatory framework and environment. The strategic evaluation of the performance of free trade zones in Nigeria, using anecdotal evidence revealed that the free trade zones have not achieved the objectives for which they were established. Based on the findings, the paper made far-­‐‑reaching recommendations on strategic to rejig the free trade zones, in order to ensure that they function optimally, in line with the developmental objective of Nigeria.