FACTORS INFLUENCING FOREIGN DIRECT INVESTMENT (FDI)

SUMMARY

This research aimed to examine the factors influencing foreign direct investment (FDI) in Nigeria. The study involved the administration of numerous questionnaires and the formulation of hypotheses regarding the determinants of FDI in the country. The results of hypothesis testing revealed the rejection of the null hypothesis (Ho), indicating a correlation between the activities of foreign direct investors and the economic development of Nigeria. With a correlation coefficient (R) of 0.8050, or approximately 0.81, it was determined that there exists a strongly positive relationship between the activities of foreign direct investors (MNCs) and Nigeria's economic development. Regression analysis yielded an equation for the model as GDP = 85.204 + 1.441 (turnover (x)) + Cal – 18.41, with a significant probability of 0.0016, less than the 0.05 threshold, signifying that turnover significantly influences GDP at a 5% significance level.