FOREIGN INVESTMENT IN NIGERIA UNDER STRUCTURAL ADJUSTMENT PROGRAMME (SAP)
Code: 92C6712019
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77 Pages
Chapter 1-5
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The research study on foreign investment in Nigeria under the structural adjustment programme focuses on the intervened levels of foreign investment in Nigeria during SAP period. In other words, the thrust of this study is based on the impact. The increased level of foreign investment has made under structural adjustment programme. It set out a number of objective which include: the appraisal of the change that has taken place in the economy of Nigeria due to SAP, in relation to foreign investment, ascertainment of the impact of those of foreign investment in Nigeria under SAP to know of the change are I the direction anticipated by the government; to envision new adjustment in SAP policies and offer recommendation or suggestions that will entrance the realization of the goal of attracting more foreign investment in Nigeria. For the research to be well guided, three hypotheses were formulated as below:
1. The cross domestic product of Nigeria has a positive relationship with the increased levels of foreign investments in Nigeria during SAP.
2. The balance of payment (BOP) of Nigeria did not increase proportionately with the increased levels of foreign investment in Nigeria during SAP.
3. The value of Naira did not appreciate as a result of the increased level of foreign investment in Nigeria during SAP.
4. The methodology adopted in the write-up constitutes data, which were based from both primary and secondary sources. These data were tested using and regression analysis. The study then found out that the gross domestic products of Nigeria has increase levels of foreign investments during SAP; the Bop position of Nigeria did not increase proportionately with the increase level of foreign investment in Nigeria under SAP, the value of Naira did not appreciate as a result of the increase level of foreign investments in Nigeria under SAP. The study discovered that even though SAP was against importation of goods from abroad but yet import rose higher during SAP than before SAP which caused the BOP position to even grow worse and the SAP policy repatriation was faulted by the study because it allowed the foreign companies to repatriate most of their capital / profit which would have served as foreign exchange for the country thereby increasing the supply of foreign exchange and rising value of Naira as a result, this was therefore recommended than on luxury goods should level of import and achieve more stable balance of payment (BOP). Foreign investment should be enforce seriously so as to reduced the level of import and achieve more stable balance of payment, foreign investors should be made to use the greater part of the profits to provide infrastructures that will attract foreign investments in the country the exchange policy should be reviewed by the government to fall within fixed and being left floating for the forces of demand and supply to determine it.
5. The study concluded that the future of foreign investments in Nigeria in bright and that foreign investment would increase significantly during the post SAP era. There if government takes the recommendations given seriously, foreign investment will make a greater impact on the economy of Nigeria during the SAP era.
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