Foreign Direct Investment, Agricultural Output and Nigeria’s Economic Growth

Hezekiah Amamizo Ogunnubi, Christiana Odunayo Oladejo, Chidiebere Jesse Ugwu
International Journal of Economics and Business Administration, Volume XIV, Issue 2, 125-146, 2026
DOI: 10.35808/ijeba/933

Abstract:

Purpose: This study assessed the impact of foreign direct investment, agricultural output on Nigeria’s economic growth. Design/methodology approach: Secondary data used for the work was obtained from the Central Bank of Nigeria statistical bulletin 2024, National Bureau of Statistics and World Development Index WDI.The scope of study spanned from 1981 to 2024. The Autoregressive Distributed Lag (ARDL) was used to run the data analysis and it was discovered that the foreign direct investment had a negative relationship with the economic growth in the short run and a positive relationship in the long run. Inflation and interest rate were also unfavorable in the short run and long run. Findings: The study concluded that foreign direct investment has both positive and negative effects on the economic growth in the short run and long run while the agricultural output has positive effects on economic growth in the long run. Practical implications: The suggestions were that the government should fund the agricultural sector and tackle insecurity in order to attract foreign investors. Originality value:


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