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JOURNAL OF RESEARCH IN NATIONAL DEVELOPMENT VOLUME 5 NO 2, DECEMBER, 2005

EVALUATION OF DEMOCRACY AND FOREIGN INVESTMENT IN NIGERIA

DR. PETER EMEKA ARINZE
SENIOR LECTURER IN ECONOMICS
DEPARTMENT OF MANAGEMENT SCIENCES,
FACULTY OF SOCIAL SCIENCES,
UNIVERSITY OF JOS

ABSTRACT
This paper contends that a good indicator of confidence in the stability of Nigerian economy is the significant inflow of foreign direct investment. Foreign capital inflow to Nigeria in recent years has not been significant. The object of the paper is to examine how the current democracy contributed significantly to improvement in overall domestic and foreign investment in Nigeria.
The assumption of the study are that the deregulatory policy of the current democratic government will not stimulate significant foreign investment. Using descriptive historical and content approach and chi-square methodology of statistical analysis, the study reveals that the new democratic government of president Obasanjo continues to create an enabling environment for domestic and foreign direct investment in Nigeria. The policy initiative has encouraged the agro-based industries and telecommunication. In the telecommunications, the introduction of GSM phones, wireless tech, and Internet Service has improved communication.

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