Exchange Rate Trends and Export Performance in Nigeria: A Descriptive Approach

This study examines the exchange rate trends and export performance in Nigeria between 1970-2015 using a descriptive approach. Particularly, the study emphasizes the impacts of exchange rate volatility on export demand in the country. The choice of this period is underscored by the fact that the starting date predates the era of the structural adjustment program (SAP) which is often described as the good days where agricultural and non-oil exports tremendously increased. Again, this date coincides with period when the external trade and exchange rate were indeed liberalized. Findings from descriptive analysis show that despite the policy pronouncements in the period covered, exchange rate volatility greatly affected export performance in Nigeria, in particular, the volume of export demand. The study recommends a deliberate exchange rate policy action that will have good implication for export growth in Nigeria.