Sociology of Trading in Nigeria: A Critical Review
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Date
2023
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Department of Sociology, University of Ilorin, Ilorin, Nigeria
Abstract
Trading is an important socio-economic activity in Nigeria, with a long history of commercial exchange dating back to pre-colonial times (Aderinto, 2018). Trading is often organised along ethnic and regional lines, with distinct trading practices and networks across the country (Adewale, 2017). The social organisation of trading in Nigeria is characterised by family-based enterprises (Oyekanmi & Akindele, 2018) and the involvement of women in the sector (Akindele & Oyekanmi, 2018).
Government policies and regulations, as well as the influence of multinational corporations and globalisation, have also shaped trading practices in Nigeria. For example, government policies and regulations have had a significant impact on trading practices in Nigeria, particularly in terms of taxation, licensing, and regulations (Iwu-Egwuonwu, 2019). Multinational corporations have also played a role in shaping trading practices in Nigeria, particularly in terms of competition and market access (Adewale, 2017). Globalisation has also had an impact on trading practices in Nigeria, particularly through the growth of e-commerce and digital technologies (Adegboyega & Oyeniyi, 2020).
Despite the important role of trading in the Nigerian economy, traders in the country face numerous challenges, including inadequate infrastructure, security concerns, and competition from multinational corporations (Ogunleye, 2021). However, there are also opportunities for innovation and improvement in trading practices in Nigeria, particularly through entrepreneurship and emerging trading practices (Adewale, 2017).
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Abdulbaqi, S. Z. (2023): Sociology of Trading in Nigeria: A Critical Review. In Sociology and Human Challenges,. A Festschrift in Honour of Professor Bashiru Salahu. Adekeye, D. S., Muhammed, A. Y., Abdullahi, A. A. and Abdulbaqi, S. Z. (ed.) 152 – 157. Published by Department of Sociology, University of Ilorin, Ilorin, Nigeria.