Impact of Foreign Direct Investment on The Growth of Nigeria’s Economy: (A Case of the Manufacturing Sector 1980-2023)

2025-02-03T16:42:09-06:00

This study examines the impact of Foreign Direct Investment (FDI) on the growth of Nigeria’s Economy: (A case of manufacturing sector between 1980-2023) using the Ordinary Least Squares method of estimation. Descriptive statistic, trend analysis, ADF unit root were initially prepared. It was indicated that all the variables were stationary at level and first difference I(0) and I(1). The Autoregressive Distributed Lag (ARDL) cointegration revealed that FDI has significant relationship with manufacturing output and inversely related (-2.02E-09) in short-run but positively related (0.00) in the long-run. Exchange rate (-0.04) was negatively related with manufacturing output in short-run but positively related in the long-run (0.19) Inflation rate (0.12) and (0.90) has positive impact of growth of Nigeria’s manufacturing output and statistically significant in the long-run. More so, capacity utilization rate (0.08) and (0.04) was insignificant both in short and long-run ARDL model reparameterized into Error Correction Model (ECM) revealed the long-run equilibrium was corrected in the current period at an adjustment speed of 62%, statistically significant and negatively signed. Based on the findings, it was recommended that the government ought to come up with more pleasant economic policies and business environment, which will attract FDI into virtually all the sectors of the economy. On the issue of corruption and diversion of funds from FDI inflows, agencies established to fight corruption such as Economic and Financial Crimes Commission and Independent Corrupt Practices Commission should be seen to do their jobs to convince both foreigners and nationals that Nigeria is safe for investment. There is need to encourage and accelerate the factors that affect productivity in the manufacturing sector of the country especially manpower and skills for as long as productivity is low, there cannot be a meaningful growth in the manufacturing sector.

Outsourcing and Organizational Performance in Fast-Food Businesses in Benin Metropolis

2025-03-09T21:08:25-05:00

Across sectors and industries, the strategic imperative of outsourcing in supporting organizational performance has been emphasized. In this study we focused on outsourcing and organizational performance in the fast-food businesses in Benin City, Nigeria. Specifically, we explored three dimensions of outsourcing – business process outsourcing (BPO), knowledge process outsourcing (KPO) and information technology outsourcing (ITO) - and their effects on organizational performance. A cross-sectional design was adopted and executed through a survey. In accomplishing the study objectives, the 196 employees of the two selected food organizations, being the entire population of the sampled food organizations, were invited to respond to the research instrument. An appropriately structured 28 item research instrument prepared in a 5-point Likert format was used for data collection to assess the variables investigated. The hypotheses were tested with multiple regression at 5% level of significance. The findings of the study showed that all the three dimensions of outsourcing explored had significant effect on the performance of the sampled fast-food business-es in Benin City Metropolis. Appropriate recommendations in line with the findings of the study were proffered.

Journal of Economics, Innovative Management and Entrepreneurship

Impact of Foreign Direct Investment on The Growth of Nigeria’s Economy: (A Case of the Manufacturing Sector 1980-2023)

Outsourcing and Organizational Performance in Fast-Food Businesses in Benin Metropolis