Effect Of Foreign Direct Investment On Economic Growth Rate In Nigeria:- Okpara Emmanuel A

Abstract

The study analysed the impact offoreign direct investment on Nigeria economic growth over the period of1981- 2018. The main type ofdata used in thisstudy is secondary; sourcedfrom various estimation technicpie that is being employed in this study to determine the relationship between and impact ofthe Direct Foreign Investment on economic growth. The findings revealed that economic growth is directly related to inflow offoreign direct investment and it is also statistical significant at 5% level which implies that a goodperformance ofthe economy is a positive signal for inflow offoreign direct investment. This implies thatforeign direct investment is an engine of economic growth. The paper recommended that government should liberalize the foreign sector in Nigeria so that all barriers to trade such xi publications of Central Bank of Nigeria, such as; Statistical Bulletin, Annual Reports and Statement of Accounts. The regression analysis of the ordinary least square (OLS) is the as arbitrary tariffs; import and export duties and other levies should be reduced so as to encourage investors.