Investment promotion for economic development in Nigeria

Abstract

This paper analyze the response of investment to adjustment reform in Nigeria through an assessment of indicators of quality of macroeconomic management and their implications for the stimulation of investment in the country. The results of our analysis indicate that there has been some downward trends in the share of investment in the GDP since the introduction of adjustment programme on account of poor management of the reform policies ushering in wild swings in such indicators as fiscal deficits, unstable exchange and interest rates and domestic prices. Given the background of these problems the paper recommends issues and measures for resurging investment that will foster rapid-economic growth in Nigeria in the approaching millennium.