Promoting Global Partnerships for Sustainable Economic Growth in Nigeria: The Nexus Between Sustainable Development Goal 17 and Goal 8 (Published)
This study examines the impact of external debt, foreign direct investment (FDI), and official development assistance (ODA) on Gross Domestic Product Per Capita Growth (GDPPCG) in Nigeria. Using econometric analysis based on annual data from relevant sources, including World Bank and IMF databases, the study employs ARDL regression models to assess the relationships between these financial inflows and economic growth indicators. The findings highlight the significant effect of external debt on GDPPCG, underscoring the importance of prudent fiscal management and sustainable debt practices to direct resources towards productive investments. Conversely, FDI and ODA exhibit non-significant impacts, suggesting challenges in maximizing their contributions to sustainable economic development due to infrastructure deficiencies, regulatory complexities, and governance inefficiencies in Nigeria. Policy recommendations emphasize enhancing debt sustainability through transparent financial governance and strategic investment in infrastructure and human capital. Improving the investment climate for FDI by streamlining bureaucratic processes and offering sector-specific incentives is crucial. Similarly, optimizing the effectiveness of ODA involves aligning aid with national development priorities and strengthening institutional capacities for aid coordination.
Keywords: External Debt, Foreign Direct Investment (FDI), Gross Domestic Product Per Capita Growth (GDPPCG), Nigeria, Official Development Assistance (ODA), Sustainable Development Goals (SDGs), economic growth
Corporate Taxation and Foreign Direct Investment in Nigeria (Published)
This study examined the relationship between corporate taxation and foreign direct investment in Nigeria from 1970-1980. The annual reports were sourced from the CBN statistical bulletin, NBS and World Bank which were analyzed using Descriptive Statistic, correlation and regression. The independent variable corporate taxation was measured using corporate tax rate (CTR) whilst dependent variable foreign direct investment was measured using FDI net inflow (% of GDP). GDP, exchange rate and inflation rate were used as control variables. The result showed negative significant relationship between CTR and FDI whilst exchange rate and FDI indicated negative insignificant relationship. However, GDP was positively insignificantly related with FDI whilst inflation had positive significant relationship with FDI. Based on the findings, the study recommended that there is need for the government to lo reduce corporate tax rate in order to attract FDI into the country.
Keywords: Corporate Taxation, Foreign Direct Investment (FDI), Nigeria