NIGERIA-US ECONOMIC RELATIONS: A CRITICAL ASSESSMENT OF JONATHAN’S ADMINISTRATION (2010-2015)

Abstract

This study assesses Nigeria-US. relation during the Jonathan.s administration of 2010-2015. It looked at the external and domestic dynamics that influenced the relation especially in the economic realm. While President Goodluck Jonathan had employed economic diplomacy to attract foreign investments, however, Nigeria was constrained by challenges ranging from effects of oil price downturn, the global economic recession, the emergence of new oil drilling technology in the US. and the continuing internal insurgency of the Boko Haram sect. The major objective of this study is to appraise the Nigeria-USrelations in the light of these challenges and to diagnose its future prospects at a time its political relationship with the US. is not so rosy. Data for this study was generated from secondary qualitative sources while its analysis is historical and descriptive as well as comparative. The paper employs the Structural-functionalist theory to drive its major assumption. The major finding, among others, is that in spite of these political setbacks as a result of the seeming anti-Jonathan posture of the United States in the hill of the presidential election of 2015, the economic relationship of the two can withstand any future constraints or challenges. However, Nigeria may be the big loser not only because of the emerging technology of electric cars, but because of ¡°horizontal fracking¡± as a new technology in oilproduction. It recommends, among others, that Nigeria.s territorial security should be beefed up to dismantle the activities of the Boko Haram insurgency, an issue of which helped to deteriorate Nigeria-US. relations during the period under study.