THE EFFECT OF FOREIGN DIRECT INVESTMENT ON THE ECONOMY GROWTH OF NIGERIA

THE EFFECT OF FOREIGN DIRECT INVESTMENT ON THE ECONOMY GROWTH OF NIGERIA

ABSTRACT

This study set out to empirically examine the effect of Foreign Direct Investment (FDI) on the economic growth in Nigeria between 1970 and 2010. The paper makes the proposition that there exists controversies over the effect of FDI on the economic growth of developing nations. However, the results obtained showed that FDI has some positive spillovers on the Nigerian economy hence the need to embark on the policies that would help to bring about greater FDI inflows.