The Role Multinational Corporations In The Economic Development Of Nigeria.

Abstract

Generally, policies and strategies of Nigerian Government towards foreign direct investments are shaped by two principal objectives of desire for economic independence and the demand for economic development. Multinational corporations are expected to bring into Nigeria, foreign capital in the form of technical skills, entrepreneurship, and technology and investment fund to boost economic activities thereby, raising standard of living of Nigerians. The main objectives in this project work relate to understanding the effects and impact of foreign direct investments on the Nigerian economy as well as our ability to attract adequate funds, sufficient enough to accelerate the pace of our economic growth and development. From the study, it was found out that multinational companies ,play positive roles on the economic development of our nation ranging from helping in greater availability of products for local consumers which.ls an index of high standard of living, balance of payment, employment etc. From the study, it was revealed that multinational corporations are highly adaptive social agents and therefore, the degree at which they can help ,in improving economic activities through foreign direct investment will be heavily influenced by the policy choice of the host country. Primary data were collected through the administration of questionnaire to staff of Unilever Plc. Pz industries and some members of the public. In order to analyze the data, the statistical method of chi-square calculation was used. Tables were produced in order to create a better understanding of the responses from the respondents. The study thus suggest that in order to further improve the economic climate for foreign direct investment in' Nigeria, the government must appreciate the fact that the basic issue should be the encouragement of domestic investors first before going after foreign investors.