Foreign Direct Investment and Economic Growth in Nigeria

Abstract

This work empirically investigates the effect of foreign direct investment on Nigeria’s economic growth over the period 1990 to 2012. The study made use of ordinary least squares (OLS) estimation techniques in analyzing the secondary data. The secondary data were mainly sourced from Central Bank of Nigeria statistical bulletin (CBN), Annual report and Statement of accounts. The result shows that Export assumes a positive sign which implies that there is a positive relationship between Economic growth and Export; in conclusion FDI has led to increase in Export in Nigeria.

Keywords: Foreign direct investment, Economic growth, Gross domestic product