Effect of FDI Inflows on Real Sector Economy of Nigeria

Sylvia Chikodi Anaele; Ifeanyi Jude Ekwunife; Ositadimma Victor Okpalla

Title:
Effect of FDI Inflows on Real Sector Economy of Nigeria

Authors:
Ositadimma Victor Okpalla | Sylvia Chikodi Anaele | Ifeanyi Jude Ekwunife

Cite This Article :

Ositadimma Victor Okpalla | Sylvia Chikodi Anaele | Ifeanyi Jude Ekwunife "Effect of FDI Inflows on Real Sector Economy of Nigeria" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-6 | Issue-6, October 2022, pp.536-552, URL: https://www.ijtsrd.com/papers/ijtsrd51910.pdf

Download

Abstract :
The study have examined the effect of sectorial FDI to economic growth of Nigeria within 34 year period spanning 1987 to 2020. FDI was disaggregated into four variables being agriculture, construction, manufacturing, and oil and gas as the independent variable. Economic growth was the dependent variable. The data were obtained from CBN statistical bulletin and Annual reports. The repression analysed using the ARDL technique. The results showed that FDI to various sector of the economy has significant long run effect on economic growth of Nigeria. Furthermore, The short run dynamic results revealed that (1) FDI to agriculture has interjecting effect with positive effect in the first lag 1 and successive negative effects in lags 2 and 4; (2) FDI to construction have a significant positive effect on economic growth; (3) FDI to manufacturing sector has negative effect on economic growth; and (4) FDI to oil and gas sector has positive effect on economic growth. The study posits that FDI inflows is a veritable driver to economic growth to developing economies like Nigeria. Among the recommendations of this study is that the government should encourage local investment into the agriculture and manufacturing to cushion the adverse impact of FDI to Nigeria growth.

Keywords :
-

Publication Details:

Unique Identification Number : IJTSRD51910

Published In : Volume-6 | Issue-6, October 2022

Page Number(s) : 536-552

Publisher Name : IJTSRD | www.ijtsrd.com | E-ISSN 2456-6470

Copyright © 2019 by author(s) and International Journal of Trend in Scientific Research and Development Journal. This is an Open Access article distributed under the terms of the Creative Commons Attribution License (CC BY 4.0) (http://creativecommons.org/licenses/by/4.0)

About IJTSRD
Indexing

International Journal of Trend in Scientific Research and Development - IJTSRD having online ISSN 2456-6470. IJTSRD is a leading Open Access, Peer-Reviewed International Journal which provides rapid publication of your research articles and aims to promote the theory and practice along with knowledge sharing between researchers, developers, engineers, students, and practitioners working in and around the world in many areas like Sciences, Technology, Innovation, Engineering, Agriculture, Management and many more and it is recommended by all Universities, review articles and short communications in all subjects. IJTSRD running an International Journal who are proving quality publication of peer reviewed and refereed international journals from diverse fields that emphasizes new research, development and their applications. IJTSRD provides an online access to exchange your research work, technical notes & surveying results among professionals throughout the world in e-journals. IJTSRD is a fastest growing and dynamic professional organization. The aim of this organization is to provide access not only to world class research resources, but through its professionals aim to bring in a significant transformation in the real of open access journals and online publishing.