An empirical study on foreign investment in Nigerian economic development (1998-2009)
T.S Ajagbe , A.N Brimah
The role played by foreign investment in the last (20) years in the Nigerian economy have been remarkable. Despite most policies adopted by the nation such as the Nigerian Enterprises Promotion Decree of 1977 which restricted the activities of foreign investors in investing in the Nigerian economy. Foreign investment still account for a greater promotion of cash flow in the gross domestic product (GDP) of the nation. The amount of funds available to every investment depends on the level of savings and consumption. It is general rule that every frugal economy assumed that I= S (where I = investment, S = Savings, C = Consumption and Y = Income). The objective of this study is to basically evaluate the roles play by foreign investments in the Nigerian economy using the period between 1998 and 2009. The gap filling theory was adopted to serve as the foundation bases of this work. Various readings and review of relevant textbooks, journals, magazines and internet were use as data collection.
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