AN EVALUATION OF FOREIGN DIRECT INVESTMENT AS A STRATEGY FOR SUSTAINABLE ECONOMIC GROWTH IN NIGERIA.ABSTRACT
Foreign Direct Investment (FDI) is a global term that is increasingly growing in
popularity among nations of the world. The attraction of FDI has been a major feature in the
economic and political agenda of developing countries for its inflow is a sure way of
ensuring steady economic growth in a nation’s economy. Devising strategies and policies for
the attraction of FDI has over the years grown in sophistication. This is because a lot of
countries are competing for global FDI and so every nation must put together a mix that
would ensure that investors get the best deal and protection for their capital. FDI can provide
the impetus to uplift an economy which has a resounding effect on other economic activities,
especially in a developing nation. It can safely be said that steady FDI inflow can create
wealth in both developed and developing countries because it provides employment,
improves skills, improves infrastructure, social amenities and general well being of a people.
This study shows that dependency theory is limited by its failure to account for the fact that
many developing economies of the world that depended on FDI have grown faster than ever
before due to more FDI net flow.
This study utilizes primary data obtained through the use of questionnaires and personal
interviews as well as data obtained from World Investment Annual Reports and Account
Books, NIPC and CBN publications and other related literatures to provide a working guide
for analytical discussions.
The study shows that there are strong indications that the Nigerian economy is desirous
of FDI and have joined the team of developing nations that are strategizing its systems for
effective attraction of FDI. It also shows that there are constraints to the attraction of FDI
which needs to be addressed before meaningful progress can be made. These constraints are
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being managed by the leading investment promotion outfit of the country, the Nigerian
Investment Promotion Commission. However, the study recommends that there must be
proper funding of NIPC, improvement in infrastructure, proper incentives, policies and
transparency for the effective performance of FDI in Nigeria.
TABLE OF CONTENT
Title page- – – – – – – – – i
Approval page – – – – – – – -ii
Dedication – – – – – – – – -iii
Acknowledgement – – – – – – – -iv
Abstract – – – – – – – – – -v
Table of content – – – – – – – -vi
CHAPTER ONE
INTRODUCTION – – – – – – – -1
1.0 Background of the study – – – – -1
1.1 Statement of the problem – – – – -5
1.2 Purpose of the study – – – – – -6
1.3 Significance of the study – – – – -8
1.4 Research questions – – – – – -9
1.5 Scope of the study – – – – – – -10
CHAPTER TWO
LITERATURE REVIEW – – – – – – -11
CHAPTER THREE
Research methodology – – – – – – -39
Design of study – – – – – – – -40
CHAPTER FOUR
Presentation, analysis and interpretation of data – -48
CHAPTER FIVE
Summary of findings – – – – – – -60
Conclusion – – – – – – – – -61
Recommendations – – – – – – – -62
Suggestions for further research – – – – -64
References – – – – – – – – -65
Appendix I – – – – — – – – -68
Questionnaire. – – – – – – – -69
AN EVALUATION OF FOREIGN DIRECT INVESTMENT AS A STRATEGY FOR SUSTAINABLE ECONOMIC GROWTH IN NIGERIA.
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