An Evaluation and Forecast of the Impact of Fdi in Nigeria's Agricultural Sector in a Var Enviroment

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Journal of Economics and Sustainable Development ISSN 2222-1700 (Paper) ISSN 2222-2855 (Online) Vol.4, No.10, 2013 www.iiste.org An Evaluation and Forecast of the Impact of Foreign Direct Investment in Nigeria’s Agriculture Sector in A VAR Environment Ayodeji Adetunji Idowu* Liu Ying Huazhong Agricultural University, No.1, Shizishan Street, Hongshan District, Wuhan, Hubei Province · 430070 · P.R. China * E-mail of the corresponding author: ayodeji.idowu@hotmail.com The research is financed by project (NCET-12-0868) New Century Excellent Talents and Project (2013PY017). Abstract This study evaluated and forecasted the impact of FDI in the agricultural sector from 1980-2007, specifically its impact on agricultural output and labor in…show more content…
For instance, Oji-Okoro (2010) in his study, the relationship between FDI and telecommunication growth in Nigeria, expounded that FDI influx boosted the growth of the country’s telecommunication sector tremendously. A host of research has been carried out to investigate the significance of foreign direct investment on the economy of Nigeria; however, most of these researches are concentrated on the sector where the large chunk of these investments goes to--the oil and gas sector. The low level of foreign direct investment in the agricultural sector might be one major reason why not much work has been done to analyze the impact of FDI in Nigeria’s agricultural sector. A sectorial analysis of cumulative foreign direct investment in Nigeria from 1980-2007 is described in Figure 1. The major gap this study points out and intends to address is that, studies that have even attempted to empirically study the impact of FDI in the agricultural sector of Nigeria use the FDI that is obtained in the entire economy 17 Journal of Economics and Sustainable Development ISSN 2222-1700 (Paper) ISSN 2222-2855 (Online) Vol.4, No.10, 2013 www.iiste.org rather than use the FDI that flows specifically to the agricultural sector. The question that then comes to mind is; what is the impact of foreign direct investment that flows specifically into the agricultural sector on the output and productivity of

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