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The impact of monetary policy on foreign trade in Nigeria was examined for a period of 31 years (1985-2016). The variables used for conducting this empirical analysis were Gross Domestic Products, Foreign Direct investment flow, money supply, exchange rate, interest rate and total trade. The ordinary least square (OLS) methodology was employed for this purpose.  The ADF unit root test was employed to test the stationarity of the variables. The study found out at 5% level of significance that Exchange Rate (EXR) had a negative and significant relationship on the economic growth of Nigeria during the period of study. Foreign Direct Investment Flow (FDIF) had a positive and significant relationship on the economic growth of Nigeria during the period of study. Total Trade (TOTR) had a positive and insignificant relationship with economic growth of Nigeria during the period of study. Interest rate exerted a positive and insignificant relationship with economic growth of Nigeria during the period of study. More so, the study showed that the money supply (MS2) had a positive and significant relationship with economic growth of Nigeria during the period of study. The study recommended that the government should encourage export diversification i.e. Non-oil sector exports should be encouraged and concentration on oil sector export should be minimized.

 

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