Nigeria's Membership of the Commonwealth and Britain's Exit from the European Union: Impact on the Nigerian Economy*

Abstract

It is no longer news that Britain has voted to cease to be a member of the European Union, a landmark event which has critically been projected to affect adversely the Nigerian economy. The impact of this development is further influenced greatly by Nigeria's membership of the Commonwealth of Nations, a situation which has tied Nigeria to the apron strings of Britain, the chief player in the Commonwealth. This article this seeks to appraise albeit briefly Nigeria's membership of the Commonwealth, the impact of Britain's withdrawal from the European Union on the Nigerian economy and whether Nigeria's continuous membership of the Commonwealth is justified.