Foreign Direct Investment, Domestic Investment and Economic Growth: the Case of Nigeria [THESIS] / Yahaya Yusuf Mohammed Baba

The studies investigate the impact of foreign direct investment and domestic investment on economic growth in Nigeria. For a ceteris paribus effect, trade openness was employed as a control variable. The time series econometrics techniques was employed to investigate, whether short and long – run relationship exist between the series, between a period of 1980 – 2014. From the findings, we confirmed that there is a short and long run dynamic causality relationships between the series. From the Granger casualty test, we discovered a unidirectional relationship between the series. Direct investment in Nigeria was discovered to be output driven. Results from trade openness, revealed an interesting fact. The economy has not been benefitting from international trade, which was revealed by the inverse relationship between the series. Thus, we recommend the followings, that the foreign investment policies should be revisited. Nigerian government should create enabling environment for investors and lastly, issue of security should be handling properly.