Investment Climate Hostility and Nigerian Economic Development: An Appraisal

Ogbuka Ikenna Matthew, Anikwe Johnson Azubike and Udenta Celestina Nkiruka

Department of Political Science, Faculty of Social Sciences and Humanities, Enugu State University of Science and Technology, (ESUT) Enugu, Nigeria

ABSTRACT

Nigeria, despite being Africa’s largest economy and most populous nation, faces investment climate hostility which may have negative impacts on her economic development. This study examines investment climate hostility and Nigerian economic development. However, the researchers adopted thematic approach in the study. The finding shows that corruption, terrorism and crime, lack of support from the government and infrastructural decay constitutes major challenges to investors in Nigeria. The study recommends amongst other things: that a sustainable environment should be provided for the intending and participating businesses and investments, that government should prioritize creating a stable and secured environment by addressing terrorism and crimes, promoting inclusive governance and ensuring the rule of law, and efforts should be made towards making significant investments in infrastructure as they are crucial to reducing operational cost and improve the ease of doing business. The researchers concluded that if efforts should be put in place by addressing all the identified problems, Nigeria will become a prosperous nation.

Keywords: Investment, Climate, Nigerian Economic and Development

CITE AS: Ogbuka Ikenna Matthew, Anikwe Johnson Azubike and Udenta Celestina Nkiruka (2024). Investment Climate Hostility and Nigerian Economic Development: An Appraisal. Research Output Journal of Arts and Management 3(3):96-101.