EXCHANGE RATE UNIFICATION AND ITS IMPLICATIONS FOR SUSTAINABLE ECONOMIC DEVELOPMENT: EMPIRICAL - COMPARATIVE APPROACH.

Abstract

This study investigates the effect of exchange rate unification on sustainable economic development in Africa, using Nigeria as a focal case. Three indicators are examined: industrial production, employment creation, and investment. A descriptive survey design was adopted, with data obtained from 400 economically active respondents across ten states and nine economic sectors using a multistage sampling approach. Data collection relied on a structured online questionnaire, validated through expert review and pretesting, and confirmed reliable with a test–retest coefficient of 0.92. Analytical techniques included descriptive statistics and simple linear regression using SPSS (Version 27). The findings reveal that exchange rate unification has a significant positive effect on industrial production and investment, reflecting improved macroeconomic predictability and investor confidence. However, its effect on employment creation was insignificant, pointing to persistent structural bottlenecks. The study concludes that unification requires complementary industrial, labour market, and investment policies to achieve sustainable development.