Wednesday, August 2, 2017
Nigeria's foreign policy priorities
Nigeria’s foreign policy priorities are shaped by four key drivers: counterterrorism operations against Boko Haram; diversification of the economy away from oil; infrastructural development; and promoting local industrialisation in line with the Nigeria Industrial Revolution Plan (NIRP). However, the absence of ill President Muhammadu Buhari risks obscuring broader diplomatic goals.
- The United States is likely to remain the largest foreign investor in Nigeria in the near term -- despite growing Chinese investment.
- Despite diversification plans, oil export revenue will be the country’s main foreign exchange earner in the short-to-medium term.
- Tensions over the detention of the Shia Islamic Movement in Nigeria (IMN) leader are unlikely to lead to a break in Iran-Nigeria relations.