Economics, Econometrics and Finance
2 years ago

Foreign capital inflows drive economic growth in Nigeria, boosting prosperity.

Regional Economic Development Research
The Effect of Foreign Capital Inflows on Economic Growth in Nigeria
Chinasa E. Urama, Doris C. Ezema, Divine Ndubuisi Obodoechi, Ezebuilo R. Ukwueze, Afamefuna A. Eze, C. Ifeoma, Joseph I. Amuka, Winnie O. Arazu, Hauwa Victoria Ibrahim

Paper Summary

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Foreign capital inflows like foreign investments and remittances can impact Nigeria's economic growth. A study looked at data from 1981 to 2020 and found that these inflows have a significant positive effect on the country's real gross domestic product. This suggests that agreements with other countries should be carefully managed to support Nigeria's economic development.