Trade is highly important to the Nigerian economy, which relies heavily on the oil sector—a sector negatively impacted by low prices in recent years, aggravated by the COVID-19 crisis. A strong emphasis also exists on the infrastructure sector, which requires modernization. But security challenges, mainly in the far North and Southern oil-producing regions of the country, as well as Nigeria’s governance issues, could deter foreign investments and negatively impact its business climate. Living standards are also likely to remain under pressure following the COVID-19 pandemic. Limited employment opportunities increase the risk of protests, particularly in the main cities.