Author(s)

Umutoni Flora¹, Ze Tian², Joseph Obiora Ezezue³

¹Department of Business Administration, Business School of Hohai University Jiangning Campus, Nanjing, China.
²Low Carbon Economy Research Institute, Hohai University Changzhou Campus, Changzhou, China.
³Plot 243/244 Transobibia Layout, Awka, Nigeria.

This research examined the impact FDI (foreign direct investments) had on the economic growth of Nigeria between 2009 and 2018. The research was directed using 3 research questions while the expo facto approach was utilized. The applied data was utilized as secondary data and it was gathered from the stock exchange of Nigeria. The collected data covered a duration of ten years and it was analyzed using the OLS (ordinary least square) technique with the help of E-view 9. The findings of the study showed that FDI has a considerable impact on the labor force, inflation, and manufacturing sectors of Nigeria. The research suggested that private sector investments with modern equipment are needed for investing in the economy of Nigeria. Additionally, the research suggested that Nigeria’s policy on foreign investment should aim to attract and encourage more foreign capital inflows by proposing economic programs that include businesses’ expansion and measures that are easier to set up.

FDI, Economic Growth, Manufacturing, Labor Force, Inflation

Flora, U. , Tian, Z. and Ezezue, J. (2020) FDI (Foreign Direct Investments) as a Determinant for the Economic Growth of Nigeria (2009-2018). Open Journal of Business and Management, 8, 770-782. doi: 10.4236/ojbm.2020.82047.