Economic and Financial Review


Central Bank of Nigeria, Research Department.


Foreign Direct Investment (FDI), Low credit ratings, High debt service, Nigeria., Foreign exchange


This paper examines the relationship between foreign direct investment (FDI) in Nigeria and some macroeconomic variables. The preliminary empirical results, covering the period 1970-1994, suggest that high debt service and low credit ratings discourage FDI. FDI is also sensitive to real per capita income and low rates of inflation.

Author Bio

Akpan H. Ekpo is Professor and Head of Department of Economics, University of Uyo, Uyo, Akwa Ibom State, Nigeria and Foundation for Economic Research and Training (FERT), Uyo, Nigeria.

Publication Title

CBN Economic and Financial Review





Recommended Citation

Ekpo, A. H. (1997). Foreign direct investment in Nigeria: evidence from time series data. ECBN conomic and Financial Review, 35(1), 59-78.



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