Nexus between Foreign Direct Investment and Oil Exports in Nigeria: An Empirical Perspective

Aderemi Timothy Ayomitunde, Alaka Adedayo and Ebere Chidinma Edith
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Aderemi Timothy Ayomitunde: Department of Economics, Olabisi Onabanjo University, Ogun State, Nigeria
Alaka Adedayo: Department of Banking and Finance, Yaba College of Technology, Lagos, Nigeria
Ebere Chidinma Edith: Department of Economics, Babcock University, Ilishan Remo, Ogun State, Nigeria

International Journal of Business and Administrative Studies, 2020, vol. 6, issue 3, 150-156

Abstract: This study examined the nexus between the inflows of FDI and exports of crude oil in Nigeria. Data were collected over the period of 1990 to 2018 from the UNCTAD Investment Reports and the Central Bank of Nigeria respectively. Dynamic Ordinary Least Square (DOLS) and Granger causality were consequently adopted in estimating the objective of this study. It is imperative to summarize the major findings in this study as follows; FDI inflows had a significant positive impact on oil exports in Nigeria. The relationship between FDI inflows and exchange rate was positive but insignificant. Meanwhile, FDI inflows and inflation rate have insignificant negative relationship. In addition, these findings in this study motivated the following recommendation in Nigeria, that policy measures that would stabilize oil exports, exchange rate and inflation rate should be embarked upon by the policy makers in Nigeria in order to induce the inflows of FDI accordingly in the long run.

Keywords: FDI; oil exports; DOLS; granger causality; Nigeria (search for similar items in EconPapers)
Date: 2020
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Persistent link: https://EconPapers.repec.org/RePEc:apa:ijbaas:2020:p:150-156

DOI: 10.20469/ijbas.6.10003-3

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