The Impact of Foreign Direct Investment on Nigeria Economic Growth

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CHAPTER ONE INTRODUCTION 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…
There is the further problem of neglect with respect to studies on the impact of FDI on the economy which has not been consciously tackled in previous studies in Nigeria. The researcher is challenged to carry out this study in order to precisely understand the nature, directions and objectives of Foreign Direct Investment and their impact in Nigeria’s economic growth. 1.3 Objectives of the Study The objective of this project is the impact of Foreign Direct Investment on Nigeria’s economic growth. Other major objectives of this study are; 1. To examine the actual impact of Foreign Direct Investment on economic growth in Nigeria. 2. To analyse the growth trend of FDI in Nigeria. 3. To study the determinant of FDI to Nigeria and its role in economic growth. 4. To make suggestions based on the research findings. 1.4 Statement of the Hypothesis The researcher through the data collected will test following hypothesis in order to accept or reject them. Ho: Foreign Direct Investment has no significant impact on Nigeria’s economic growth H1: Foreign Direct Investment has significant impact on Nigeria’s economic growth 1.5 Significance of the Study This study will bring out the following benefits; It will go a long way in spelling out what Foreign Direct Investment is, provide adequate information on the positive
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