A Multi-Sectoral Analysis of Effects of Foreign Direct Investment on Nigeria’s Output Growth

This research work examined the Multi-Sectoral Analysis of effects Foreign Direct Investment on Nigeria’s Output Growth ranging from 1990-2020, covering a period 30 years. (FDI) is undoubtedly key source external capital to many emerging economies. Nigeria one renowned destinations for FDI in Africa. Inflows are not significant when compared some other developing countries. explores issues pertaining sectoral allocation major sectors Nigerian economy. Technically, it focused effect output growth. Proxied as explanatory variable while Interest Rate proxied INTR and Exchange EXR control variables Mining & Quarrying (MQGDP), Manufacturing Processing (MPGDP), Agricultural Sector (AGGDP), Information Communication (ICGDP) dependent variables. The central objective this determine inflows, Information& also Variables. It employed use secondary time series data using statistical tool such Auto Regressive Distributive Lag (ARDL), Augmented Dickey Fuller unit root test stationarity Data, Johanson Co-integration long-run equilibrium relationship that exist among under study. p.value MQGDP, MPGDP, AGGDP, ICGDP 0.3767, 0.5846, 0.3155, 0.8498and 0.8015, 0.7097, 0.9200, 0.8426 0.4172, 0.9330, 0.5513, 0.1755 respectively showing none significant. result shows FDI, &EXR impacted positively growth AGGDP while, only MPGDP with exerting negative it. Based findings, study recommends amongst others government should encourage inflow more into various by creating an enabling environment formulating strategic socio-economic policies will enhance ease doing business boost investor’s confidence.