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FDI In Nigeria

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International business activities cannot be regarded as a recent phenomenon. The existence and economy of the Carthaginians and Phoenicians in the ancient world were significantly dependent on international business. These trans-border economic activities involved strategic alliances, joint ventures (JV), foreign direct investment (FDI) and other forms of internationalization (Moore and Lewis, 1999). Some multinational companies (MNEs) were also identified in Europe around the middle ages and start of the modern era (Dunning, 1993a; Jones, 1996).
Modern international business structures have been traced to have their origins from the industrial revolution and the enormous international movement trade factors in the nineteenth century (Dunning, …show more content…

Aluko (1961) and Brown (1962) reported positive impacts of FDI on Nigeria’s economy. Endozien (1968) studied researched on the linkage effects of FDI on the Nigerian economy and submitted that the impacts were insignificant and that the broad linkage effects were less than the Chenery-Watanabe average (Chenery and Watanabe, 1958).
Oseghale Amonkhienan and Oseghale Amonkhienan (1987) submitted a positive relationship between FDI and GDP while concluding that sustained inflow of FDI will boost Nigeria’s economic performance. Odozi (1995) researched the factors affecting FDI inflow into Nigeria in both the periods pre and post (SAP) structural adjustment program periods and submitted that the policies before the SAP discouraged FDI inflow.
Ekpo (1995) submitted that inflation rate, real per capita income, political regime, debt service and credit rating were key factors elucidating the inconsistency of FDI flow and impact in Nigeria. Ariyo (1998) found that private local investment contributed significantly to GDP growth between 1970 and 1995 but lacked dependable evidence that all the variables included in his analysis had some influence on economic growth. Oyinlola (1995) in his analysis assumed foreign capital to mean export earnings, foreign loans and direct foreign investment. Using the Chenery and Stout's two-gap model, he resolved from his findings …show more content…

The Nigerian government has worked on policies that will help attract foreign investors and yet the economy is still struggling. Consistent with the context, he studied the impact of FDI on economic growth in Nigeria for the period 1970-2010 using annual time series data through a neo-classical framework. The study reveals that FDI had positive effect on Nigeria’s economy. The study recommended that for Nigeria to effectually secure the benefits of domestic and foreign investments, its economic managers must create a healthy and supportive business environment that encourages both local and foreign investors, offer incentives for skills improvement and innovation and contribute to a competitive corporate

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