Ease of Doing Business and Foreign Direct Investment in Nigeria: A Recipe for Economic Growth and Development

Abstract

This work titled ease of doing business and Foreign Direct investment (FDI) in Nigeria: a recipe for economic growth and development has affected inflow of capital into the country in terms of foreign direct investment that is capable of diversifying Nigeria economy from overdependence on oil, thus eliminating her on the list of countries with mono cultural economy. Therefore, the objective of the study was to examine the effect of enabling laws on capital inflows and the effect of insecurity on attraction of FDI. The study adopted the review method where previous works on the subject matter were reviewed. Findings from the study revealed that enabling laws to a large extent affect and discourage prospective investors from bringing their investment into Nigeria. And that security of lives and property affect attraction of foreign investors, empirical evidence suggest that insecurity significantly affects attraction of FDI to Nigeria and the researchers recommended among other things, that Nigeria need to do more laws on ease of doing business in order to make her improve on the global ranking index of countries with ease of doing business, for now 131 out of 190 is not too good and that playing politics with security will rather aggravate paucity of capital inflow needed for investment into critical sectors of Nigerian economy, therefore securing our country should be everybody’s business.