Nigeria’s foreign policy is influenced by its position as a major exporter of natural resources. Natural resources are materials or substances that are found in the environment and have economic value. Nigeria is blessed with abundant natural resources such as oil, gas, minerals, and agricultural products.
One of the key factors that influence Nigeria’s foreign policy is its dependence on revenue generated from the export of natural resources. The export of these resources plays a significant role in the country’s economy, as it contributes to foreign exchange earnings, government revenue, and overall economic development.
As a major exporter of natural resources, Nigeria seeks to protect its interests in international relations and promote favorable conditions for the extraction, production, and export of these resources. The country aims to establish strong trade partnerships with other nations to ensure market access and stable prices for its exports.
Additionally, Nigeria's foreign policy is influenced by the need to attract foreign investments and technology transfer in order to develop and diversify its economy beyond dependence on natural resources. This requires building diplomatic relations with other nations, negotiating favorable trade agreements, and promoting international cooperation in areas such as technology exchange, research, and development.
In conclusion, Nigeria's position as a major exporter of natural resources significantly shapes its foreign policy. The country's policies are driven by the need to protect and promote its interests in the export of these resources, attract foreign investments and technology, and ensure economic development and diversification beyond dependence on natural resources.