Trade Balance, Exchange Rate and Money Supply in Nigeria: Growth Implications and Lesson for African Countries

The significance of trade in the development nations made this study examine impact balance, exchange rate, and money supply on economic growth with reference to Nigeria's economy serve as a lesson for other African countries. relies Mundell-Fleming BOP model its framework use secondary time-series data extracted from statistical bulletin Central Bank Nigeria 1981 2020. ARDL cointegration least square was adopted. result showed long-term relationship among broad supply, interest inflation Nigeria. Our thus concludes that oil balance is fundamental driver growth, appropriately, we suggested ensure countries, government should strategize policies develop non-oil sector; also monetary authorities design frameworks towards making enhancer, stabilization rate domestic countries gain more by intensifying flux credit real exporting sector setting economies track expansion.