An investigation of government reforms’ impact on foreign investment attractiveness in Nigeria: A case study of Abuja (2000–2020)
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Background of the Study :
Foreign investment is a critical component of economic growth, providing capital, technology transfer, and managerial expertise. In Nigeria, government reforms aimed at improving transparency, streamlining bureaucracy, and enhancing regulatory frameworks have been implemented between 2000 and 2020 to boost foreign investment attractiveness. Abuja, as the political and administrative center, has been the focus of these reforms. Measures such as improved tax policies, simplified business registration processes, and enhanced investor protection have contributed to creating a more conducive investment climate (Okonkwo, 2023). Empirical research indicates that such reforms can significantly increase foreign direct investment (FDI) inflows, thereby stimulating economic growth (Adeniyi, 2024). However, challenges including corruption, policy inconsistency, and infrastructural inadequacies continue to dampen investor confidence (Chukwu, 2025). This study examines the effectiveness of government reforms in attracting foreign investment by analyzing FDI trends, policy changes, and investor perceptions in Abuja.
Statement of the Problem
Despite ongoing reforms, foreign investment in Abuja remains below desired levels. Inconsistent policy implementation and infrastructural deficits have undermined investor confidence. The gap between reform initiatives and actual FDI inflows suggests that existing measures may be insufficient to address underlying challenges. This study seeks to identify the key factors that limit the attractiveness of Nigeria to foreign investors and evaluate the overall impact of government reforms. Addressing these issues is essential for enhancing the investment climate and ensuring that reforms effectively translate into increased FDI, driving economic growth (Okonkwo, 2023; Adeniyi, 2024).
Objectives of the Study:
1. To evaluate the impact of government reforms on foreign investment attractiveness.
2. To identify key barriers to attracting FDI.
3. To propose recommendations for improving the investment climate.
Research Questions:
1. How effective are government reforms in attracting foreign investment?
2. What are the main obstacles to increased FDI in Abuja?
3. What policy measures can enhance investor confidence?
Research Hypotheses:
1. H1: Government reforms positively influence foreign investment attractiveness.
2. H2: Policy inconsistencies negatively impact FDI inflows.
3. H3: Enhanced infrastructural support increases investor confidence.
Significance of the Study (100 words):
This study provides valuable insights into the impact of government reforms on foreign investment in Abuja. Its findings will guide policymakers in refining reform strategies to create a more attractive investment environment, thereby boosting FDI inflows and supporting economic growth (Chukwu, 2025).
Scope and Limitations of the Study:
The study is limited to Abuja from 2000–2020, focusing on government reform policies and FDI data. Limitations include external market influences and data constraints.
Definitions of Terms:
1. Foreign Investment: Investment made by non-residents in a country’s economy.
2. Government Reforms: Policy changes aimed at improving the business environment.
3. FDI: Foreign Direct Investment.
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