IMPACT OF FDI ON THE CONSTRUCTION SECTOR OF THE NIGERIAN ECONOMY
- Project Research
- 1-5 Chapters
- Quantitative
- Regression
- Abstract : Available
- Table of Content: Available
- Reference Style: APA
- Recommended for : Student Researchers
- NGN 3000
Abstract
This study performed an analysis on the inflow trends of Foreign Direct Investment investigated in the Nigerian construction industry with a view to studying the pattern of flow and assessing the effect of increased flow of FDI on the industry. Annualized time series archival data from the central bank of Nigeria and the National Bureau of Statistics served as the data source. The data collected was analyzed using simple percentages, regression analysis, Duncan Multiple Range Test and Granger Test, while the hypotheses were tested with the aid of the f- test. Results revealed that there is poor flow (or an insignificant flow) of FDI into construction sector when compared to other sectors of the economy. According to Granger sense, the Granger Causality is bi-directional, suggesting that FDI is an important prerequisite and catalyst for sustainable growth and development in construction and on the other hand, the level of infrastructural facilities available on ground is a prerequisite for attracting foreign direct investors. A high positive correlation or significant relationship between FDI and the construction sector further corroborates this result. Based on the results and inferences , it was recommended that aside massive investment in infrastructure, the Nigerian government should also create the enabling environment, by devising policies, enforcing existing laws that will portray the country in a positive light, encourage foreign investors and ultimately attract the much needed FDI to boost the nation’s economic status.
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