Title:
Nigeria’s Economic
Growth:
Emphasizing the Role of Foreign Direct Investment in Transfer of
Technology
Abstract: The growth and development of
Africa
and indeed Nigeria’s economy depends largely on foreign direct
investment
(FDI), which has been described as the major carrier for transfer of
new
scientific knowledge and related technological innovations. The need to
step
up Nigeria’s industrialization process and growth, calls for more
technology
spill-over through foreign investment. This article examines Nigeria’s
Economic
situation, explores the link between FDI and technology transfer to
foreign
subsidiaries and spillover to Nigeria’s domestic firms. In doing so it
offers
sustained analysis of available literature, policy documents, official
reports
and economic information on Nigeria. The article concludes that FDI can
facilitate
economic growth in Nigeria by generating both technological and
efficiency
spillovers to local firms, encouraging innovation, allowing technology
adoption
and developing human capital.
Author: A Y Dutse