ABSTRACT
The Impact of Foreign Direct Investment on Nigeria's Economic Growth: An Empirical Analysis This study investigates the relationship between Foreign Direct Investment (FDI) and economic growth in Nigeria, using a quantitative approach. The study employs multiple regression analysis to examine the impact of FDI on Nigeria's Gross Domestic Product (GDP) growth rate, covering the period from 2015 to 2023. The results show a significant positive relationship between FDI and economic growth, confirming the hypothesis that FDI has a positive impact on Nigeria's economic growth. The study reveals that FDI has contributed significantly to Nigeria's economic growth, accounting for approximately 15% of the variation in GDP growth rate. The findings also indicate that the impact of FDI on economic growth is mediated by factors such as trade openness, human capital development, and institutional quality. The study's conclusions have important implications for policymakers and stakeholders seeking to promote economic growth and development in Nigeria. Specifically, the study recommends increasing efforts to attract FDI, improving the business environment, and investing in human capital development.
Keywords: Foreign Direct Investment, Economic Growth, Nigeria, Trade Openness, Human Capital Development, Institutional QualityJEL Classification: __F21, F23, O40, O55
