Foreign Direct Investment: Catalyst for Sustainable Economic Development in Nigeria
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Scholars Middle East Publishers
Abstract
Description
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.
Keywords
H Social Sciences (General), HB Economic Theory