Foreign Direct Investment: Catalyst for Sustainable Economic Development in Nigeria

Taiwo, J.N. and Achugamonu, Bede U. and Okoye, O. and Agwu, M.E (2017) Foreign Direct Investment: Catalyst for Sustainable Economic Development in Nigeria. Saudi Journal of Business and Management Studies, 2 (2). pp. 70-81. ISSN 2415-6663 (Print), 2415-6671 (Online)

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Abstract

This is a conceptual review (content analysis) of the effect of foreign direct investment as a catalyst for sustainable economic development in Nigeria. The major objective is a comparative analysis of 87 developing countries with the capacity to attract FDI and proffer possible solutions that will catapult Nigeria as a globally acceptable haven for foreign investment. The secondary data were sourced from Investing Across Borders (IAB) 2010 report where 87 developing countries across the globe were assessed using the IAB indicators. The major conclusion drawn from the survey is that Nigeria as a country is yet to maximize its potentials (given available resources and market size) at attracting foreign investment. It also concludes that the process of foreign business establishment/ownership in Nigeria need to be improved upon to encourage high patronage of foreigners in economic activities. This study therefore recommends that Government should make policies that will encourage equity ownership of investments in Nigeria by foreigners. The authorities should put in place machineries that will ensure a transparent and simple business registration and ownership process.

Item Type:	Article
Uncontrolled Keywords:	Foreign Direct Investment; Sustainable Economic Development; Equity Ownership; Productive Capacity
Subjects:	H Social Sciences > H Social Sciences (General) H Social Sciences > HB Economic Theory
Divisions:	Faculty of Law, Arts and Social Sciences > School of Social Sciences
Depositing User:	Mrs Patricia Nwokealisi
Date Deposited:	19 Jun 2017 09:22
Last Modified:	19 Jun 2017 09:22
URI:	http://eprints.covenantuniversity.edu.ng/id/eprint/8353

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