THEORETICAL REVIEW OF THE REGULATORY FRAMEWORK FOR FOREIGN DIRECT INVESTMENT IN NIGERIA
Michael Sunday Oriola
Joseph Ayodele Babalola University, Ikeji-Arakeji, Osun-State
Email: michaeloriola@yahoo.co.uk
ABSTRACTS
This paper tries to answer the question whether and to what extent initiatives in improving regulatory frameworks and trade-related infrastructures caused or contributed to increase FDI in Nigeria. Thus, Nigerian government has at various times enacts policies that permit and encourage foreign investments in Nigeria by non-nationals. This paper critically examines the extent these various policies have been successful in attracting foreign investors to Nigeria. Data and information from library, internet, journals and text books were used for its methodology. However, finding shows that successive reforms to improve Nigeria’s business climate have not encouraged foreign investors, nor yield much success. It recommends that Nigeria government should vigorously pursue the ongoing privatization of the downstream sector of its oil industry. The privatization of the downstream sector will help to integrate the oil sector into the economy. The integration of the oil sector into the economy will boost its potential to contribute to economic growth and subsequently improve the investment environment and thereby enhance FDI inflows to Nigeria.
Keywords: FDI, Regulatory framework, Government policy, Nigeria.
