An assessment of foreign direct investment in rural economic development in Sagamu Local Government Area, Ogun State
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Background of the Study
Foreign direct investment (FDI) has emerged as a powerful catalyst for rural economic development by providing capital, technology transfer, and managerial expertise. In Sagamu Local Government Area, Ogun State, FDI is increasingly recognized for its potential to stimulate rural economies and enhance local infrastructure. Investments from multinational corporations and foreign entities can lead to improved agricultural practices, industrial sector development, and increased employment opportunities (Ogunyemi, 2023). However, the rural context poses unique challenges such as infrastructural deficits and limited market access, which may affect the efficiency of FDI. This study critically examines how FDI contributes to rural development by analyzing its role in enhancing economic activities, improving livelihoods, and fostering sustainable development. Emphasis is placed on understanding the interplay between FDI inflows and local economic policies to optimize investment strategies (Babatunde, 2024; Adekunle, 2025).
Statement of the Problem
Despite the potential benefits of foreign direct investment, rural areas in Sagamu face significant challenges in harnessing FDI for economic development. Infrastructural limitations, bureaucratic inefficiencies, and market access issues hinder the effective utilization of FDI, potentially limiting its positive impact on rural economies (Adesanya, 2023). This study aims to address these challenges by exploring the relationship between FDI and rural economic development in Sagamu, identifying key barriers and opportunities to optimize investment benefits.
Objectives of the Study:
To evaluate the impact of FDI on rural economic development in Sagamu.
To identify barriers hindering effective FDI utilization in rural areas.
To recommend strategies to maximize the benefits of FDI for local development.
Research Questions:
How does FDI influence rural economic development in Sagamu?
What are the main challenges affecting FDI efficiency in rural areas?
What policy measures can enhance the positive effects of FDI?
Research Hypotheses:
H1: FDI positively impacts rural economic development.
H2: Infrastructural and bureaucratic challenges limit FDI benefits.
H3: Policy interventions can optimize FDI contributions to rural economies.
Significance of the Study
This study is significant as it explores the role of foreign direct investment in driving rural economic development in Sagamu. The findings will aid policymakers and investors in designing strategies that overcome rural challenges and harness FDI for sustainable local growth (Ogunyemi, 2024).
Scope and Limitations of the Study:
This study is limited to assessing the impact of foreign direct investment on rural economic development in Sagamu Local Government Area, focusing exclusively on FDI-related factors and rural infrastructure.
Definitions of Terms:
Foreign Direct Investment (FDI): Investments made by foreign entities in a domestic economy.
Rural Economic Development: The process of improving the economic well-being of rural areas.
Sagamu Local Government Area: The administrative region in Ogun State where the study is conducted.
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