@article{ART003190900},
author={Anthony Isichei Monye and Kim Jun Yeup},
title={Foreign Direct Investment (FDI) and its Impact on Sustainable Industrial Development in Nigeria},
journal={Journal of Asia-Pacific Studies},
issn={1225-8539},
year={2025},
volume={32},
number={1},
pages={123-156},
doi={10.18107/japs.2025.32.1.005}
TY - JOUR
AU - Anthony Isichei Monye
AU - Kim Jun Yeup
TI - Foreign Direct Investment (FDI) and its Impact on Sustainable Industrial Development in Nigeria
JO - Journal of Asia-Pacific Studies
PY - 2025
VL - 32
IS - 1
PB - Institute of Global Affairs
SP - 123
EP - 156
SN - 1225-8539
AB - The Study examined the impact of Foreign Direct Investment (FDI) on the Nigerian manufacturing sector over the period of 1990 to 2016. Secondary data were sourced from World Development Indicators for Nigeria, World Bank, Central Bank of Nigeria (CBN), and United Nations Conference for Trade and Development (UNCTAD). The Dynamic and Fully Modified Ordinary Least Squares (DOLS and FMOLS) estimation technique employed for the analysis. The empirical results within the period under review, showed that on one hand foreign direct investment (FDI), infrastructure development (INFRAD) and real interest rate (RINTR) is positively related to manufacturing sector output growth. Degree of Trade Openness (DTOP) and Real Exchange Rate (REXCR) on the other hand, was found to be and Real Exchange Rate (REXCR) on the other hand, was found to be inversely related to the manufacturing sector output growth and statistically significant in both the DOLS and FMOLS framework. Since the empirical evidence revealed that FDI is positively related manufacturing sector output growth and further clear the ambiguity of whether FDI promotes manufacturing sector output growth.
We therefore recommends that the Nigeria government need to design and implement policies not only attract better technological resources induced FDI but also to promote innovative and entrepreneurial drive among the technological active firms in Nigeria manufacturing sector. The pursuit of outward-looking strategies and policies should be strengthened depending on the comparative advantages in the manufacturing sector and as a cushion against vulnerability impacts of the exports and imports market.
KW - Manufacturing Output;Foreign Direct Investment;Infrastructure Development;Nigerian Economy;Sustainable Development
DO - 10.18107/japs.2025.32.1.005
ER -
Anthony Isichei Monye and Kim Jun Yeup. (2025). Foreign Direct Investment (FDI) and its Impact on Sustainable Industrial Development in Nigeria. Journal of Asia-Pacific Studies, 32(1), 123-156.
Anthony Isichei Monye and Kim Jun Yeup. 2025, "Foreign Direct Investment (FDI) and its Impact on Sustainable Industrial Development in Nigeria", Journal of Asia-Pacific Studies, vol.32, no.1 pp.123-156. Available from: doi:10.18107/japs.2025.32.1.005
Anthony Isichei Monye, Kim Jun Yeup "Foreign Direct Investment (FDI) and its Impact on Sustainable Industrial Development in Nigeria" Journal of Asia-Pacific Studies 32.1 pp.123-156 (2025) : 123.
Anthony Isichei Monye, Kim Jun Yeup. Foreign Direct Investment (FDI) and its Impact on Sustainable Industrial Development in Nigeria. 2025; 32(1), 123-156. Available from: doi:10.18107/japs.2025.32.1.005
Anthony Isichei Monye and Kim Jun Yeup. "Foreign Direct Investment (FDI) and its Impact on Sustainable Industrial Development in Nigeria" Journal of Asia-Pacific Studies 32, no.1 (2025) : 123-156.doi: 10.18107/japs.2025.32.1.005
Anthony Isichei Monye; Kim Jun Yeup. Foreign Direct Investment (FDI) and its Impact on Sustainable Industrial Development in Nigeria. Journal of Asia-Pacific Studies, 32(1), 123-156. doi: 10.18107/japs.2025.32.1.005
Anthony Isichei Monye; Kim Jun Yeup. Foreign Direct Investment (FDI) and its Impact on Sustainable Industrial Development in Nigeria. Journal of Asia-Pacific Studies. 2025; 32(1) 123-156. doi: 10.18107/japs.2025.32.1.005
Anthony Isichei Monye, Kim Jun Yeup. Foreign Direct Investment (FDI) and its Impact on Sustainable Industrial Development in Nigeria. 2025; 32(1), 123-156. Available from: doi:10.18107/japs.2025.32.1.005
Anthony Isichei Monye and Kim Jun Yeup. "Foreign Direct Investment (FDI) and its Impact on Sustainable Industrial Development in Nigeria" Journal of Asia-Pacific Studies 32, no.1 (2025) : 123-156.doi: 10.18107/japs.2025.32.1.005
