Amanda Woolverton, a global marketing executive, highlighted how the changing landscape of decline of globalization could benefit Nigeria by focusing on internal development and forging independent trade relations.
Woolverton’s statement came amid growing concerns that U.S. foreign policy, under Trump’s leadership, would prioritize domestic interests, affecting the global trade environment.
Amanda Woolverton, stated this during the Nairametrics Q4 Economic outlook themed- Nigeria Economic Outlook 2025 Focus: Exchange Rate, Interest Rate, Economic Growth, Geopolitics.
As the global trend of deglobalization gains momentum, Woolverton emphasized that this shift is not an abrupt change but a gradual process that began well before Donald Trump’s return to office.
“Globalization is already in a gradual state of decline, a trend that predates Trump’s return to office,” she stated.
Woolverton explains the significant opportunities for Nigeria, particularly in enhancing its attractiveness to foreign investors. Rather than relying on the U.S. or other global powers for investment
“Nigeria should aim to secure its national interests by enhancing its internal systems and infrastructure, rather than depending on the U.S. to invest in Africa for strategic reasons.
This is a great opportunity for Africa, especially Nigeria, to focus on creating a more attractive environment for foreign investments,” she said.
She also stated the need for other African nations to adopt a similar approach and secure their own future
“Other African countries should also reflect on how they can stand on their own feet and secure their own future.”
Adapting to Bilateral Trade Dynamics
As the world moves towards more bilateral trade arrangements, Woolverton advised Nigeria to rethink its reliance on traditional trade blocs and multi-country negotiations.
“Countries like Nigeria need to understand what is going on in the U.S. and globally, Nigeria should think about what it can offer and engage in conversations that build trust and create mutual benefits,” she said.
This shift toward bilateral trade presents an opportunity for Nigeria to not only negotiate more favorable deals but also build more resilient partnerships with key global players.
Woolverton noted that the shift away from globalization, she noted, offers Nigeria a chance to secure its place in the global economy. “The shift away from globalization offers a chance for Nigeria to grow independently and secure its place in the global economy,” she said.
By adopting a proactive approach focusing on strengthening domestic systems, infrastructure, and international relationships Nigeria can better navigate the challenges posed by deglobalization and ensure its long-term economic stability.
