<p style="text-align:justify; margin-bottom:11px"><span style="font-size:11pt"><span style="line-height:107%"><span style="font-family:Calibri, "sans-serif""><span lang="EN-US" style="font-size:12.0pt"><span style="line-height:150%"><span style="font-family:"Times New Roman","serif"">Protectionism has become a tool of economic intelligence in a globalized world </span></span></span><span lang="EN-US" style="font-size:12.0pt"><span style="line-height:150%"><span style="font-family:"Times New Roman","serif"">(Gulo & Dwiastuti, 2022; Wernicke, 2021)</span></span></span><span lang="EN-US" style="font-size:12.0pt"><span style="line-height:150%"><span style="font-family:"Times New Roman","serif"">. The purpose of this study is to investigate factors that are affected in the CFA franc using countries and in Nigeria’s economies when export potential of those CFA franc using countries is decreasing because of Nigerian’s protectionism measures using Explanatory Mixed Method approach. A gravity model approach is used for the quantitative study and interview is used for qualitative study. Panel data econometric technique is used to estimate the gravity model. The results of this study demonstrate that protectionism reduces income in CFA franc using countries, and welfare in Nigeria. It increase consumer price index for food products in Nigeria. The findings help policy maker to implement the Agenda 2063 which foresees a comprehensive free trade agreement eventually agreed upon in March 2018 by African Union by developing a common currency in ECOWAS countries.</span></span></span></span></span></span></p>
<p style="text-align:justify; margin-bottom:11px"><span style="font-size:11pt"><span style="line-height:107%"><span style="font-family:Calibri, "sans-serif""><span lang="EN-US" style="font-size:12.0pt"><span style="line-height:150%"><span style="font-family:"Times New Roman","serif"">Keywords: Monetary Governance – Franc CFA using Countries – Protectionism - Nigeria</span></span></span></span></span></span></p>