Nigerian Investment Promotion Commission and Foreign Direct Investment in Nigeria

Abstract

The paper investigates the impact of Nigerian Investment Promotion Commission (NIPC) in attracting Foreign Direct Investment (FDI) to the country. Using a dynamic error correction mechanism models and cointegration approach the paper obtained that the influence of the commission in attracting FDI to the country has not been significant over the period of study. This reason for this result could be attributed to lack of autonomy for this commission and lack of continuity in government policies that has led to neglect of this commission over time. The paper recommends a guided autonomy for the agency and more attention devoted to this commission in order for the commission to play its role of attracting foreign direct investment into the country.