FOREIGN DIRECT INVESTMENT AND ITS IMPACT ON THE DEVELOPMENT OF NIGERIAN ECONOMY (1990 – 2010)
Generally, policies and strategies of Nigerian government towards foreign direct investment are shaped by two principal objectives of the desire for economic independence and the demand for economic development. Multinational corporations are expected to bring into Nigeria foreign capital in the form of technical skills, entrepreneurship, and technology and investment fund to boost economic activities thereby raising the standard of living in Nigeria.
The main issues in this paper relates to understanding the effects of foreign direct investment on the Nigerian economy as well as our ability to attract adequate amounts, sufficient enough to accelerate the price of our economic growth and development. From related research and studies, it was revealed that multinational corporations are highly adaptive social agents and therefore, the degree to which they can help in improving economic activities through FDI will be heavily influenced by the policy choice of the host country.
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