The Impact of Foreign Direct Investment on Nigeria Economic Growth
1.1 Background of the Study
Industrialization has not only changed the way the world do business but also changed the world itself. Fortunately, Nigeria is one of the countries that did not escape its impact. Industrialization is the process of social and economic change that transforms a human group from a pre-industrial society into an industrial one. It is a part of a wider modernization process, where social change and economic development are closely related with technological innovation, particularly with the development of large scale energy and metallurgy production. It is the extensive organization of an economy for the purpose of manufacturing.
Industrialization also introduces a form of …show more content…
The Foreign Direct Investor may acquire 10% or more of the voting power of an enterprise in an economy through any of the following methods: â€¢ by incorporating a wholly owned subsidiary or company â€¢ by acquiring shares in an associated enterprise â€¢ through a merger or an acquisition of an unrelated enterprise â€¢ participating in an equity joint venture with another investor or enterprise
The researcher actually wants to examine properly the nature, objectives and effects of Foreign Direct Investment in economic growth specifically in Nigeria. This will enable the researcher to make recommendations and state the implications of allowing foreign capital into our economy through Foreign Direct Investment. These among other challenging factors about Foreign Direct Investment on economic growth of the country form the background of this study.
1.2 Statement of the Problem
The results of studies carried out on the impact of FDI on economic growth in Nigeria are not unanimous in their submissions. A closer examination of these previous studies reveals that conscious effort was not made to