RUDN Journal of EconomicsRUDN Journal of EconomicsВестник Российского университета дружбы народов. Серия: Экономика2313-23292408-8986Peoples’ Friendship University of Russia named after Patrice Lumumba (RUDN University)2390110.22363/2313-2329-2020-28-2-357-366ECONOMIC GROWTH AND SOCIO-ECONOMIC DEVELOPMENTЭКОНОМИЧЕСКИЙ РОСТ И СОЦИАЛЬНО-ЭКОНОМИЧЕСКОЕ РАЗВИТИЕResearch ArticleThe role of foreign direct investment in economic growth of NigeriaВлияние прямых иностранных инвестиций на экономический рост НигерииMadojemuMichaelМадоджемуМайклPhD student in Economics of the International Economic Relations Departmentаспирант кафедры международных экономических отношенийagomado@inbox.ruPeoples’ Friendship University of Russia (RUDN University)Российский университет дружбы народов15122020282VOL 28, NO2 (2020)ТОМ 28, №2 (2020)35736604062020Copyright ©; 2020, Madojemu M.Copyright ©; 2020, Мадоджему М.2020Madojemu M.Мадоджему М.http://creativecommons.org/licenses/by/4.0https://journals.rudn.ru/economics/article/view/23901The paper investigates the relevance of foreign direct investment (FDI) as a factor inhibiting economic growth in Nigeria. This paper inspects the sectorial influence of FDI in manufacturing, mining, oil and the telecommunications sectors on economic growth in Nigeria based on theoretical framework founded on the standard growth accounting theory, detailed analysis of the sectorial FDI over the period 1981 and 2017 was carried out. Various econometric methods are employed, such as the ADF test, Dickey and Fuller test (1979), PP test (Phillips and Perron, 1988) are used for the unit root test, and the Shahbaz and Rahman (2010) method is used for the long-run relationship between the foreign direct investment and economic growth. The paper also adapted the framework provided by M.B. Obwona (2004). The paper formalizes a mechanism of recommendations to allow for the influence of foreign direct investment in the transmission of socio-economic growth generated in Nigeria. In conclusion, government should provide an enabling environment that will encourage foreign investors to invest in Nigeria economy by addressing the security challenges in the country, understanding that investment friendly environment will improved regulatory framework as well as encourage domestic investment.Исследование посвящено оценке влияния ПИИ на экономический рост Нигерии. В работе представлен анализ влияния ПИИ на такие сектора экономики Нигерии, как промышленный, добычи (нефть), телекоммуникационный; анализ степени влияния ПИИ на выбранные сектора основывается в том числе на теоретических подходах и научных работах, опубликованных в период с 1981 по 2017 г. Сформирован ряд рекомендаций, позволяющих «трансформировать» влияние ПИИ в социально-экономический рост Нигерии. Формирование благоприятной инвестиционной среды должно способствовать привлечению иностранных инвесторов в экономику Нигерии, главным образом через сокращение или устранение инвестиционных рисков, одним из которых является социальная безопасность.FDIeconomic growtheconomyNigeriasectors of the economyinvestment policyПИИэкономический ростэкономика Нигериисекторы экономикиинвестиционная политика1.Adams, S. (2009). Foreign Direct Investment, Domestic Investment, and Economic Growth in Sub-Saharan Africa. Journal of Policy Modelling, 31(6), 939-949.2.Agosin, M., & Machado, R. (2005). Foreign investment in developing countries: Does it crowd in domestic investment? Oxford Development Studies’, Taylor & Francis Journals, 33(2), 149-162.3.Akinlo, A.E. (2004). Foreign direct investment and growth in Nigeria: An empirical investigation. Journal of Policy Modeling, 26, 627-639. https://doi.org/10.1016/j.jpolmod.2004.04.0114.Alfaro, L., Chanda, A., Kalemli-Ozcan, S., & Sayek, S. (2004). 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