An Analysis Of The Trends Of Foreign Direct Investment Inflows In The Nigerian Construction Sector

 

An Analysis Of The Trends Of Foreign Direct Investment Inflows In The Nigerian Construction Sector

 

Abstract

 

The construction sector occupies a focal position in the frugality of any nation because it’s an important contributor to the process of development( Aje, 2008). In the conduct of profitable conditioning, the construction sector is always used by government as the encouragement for the buoyancy of the frugality( Akindoyemi, 2011). The construction assiduity is thus a critical factor or variable of progress in the drive for profitable advancement of nations, especially lower Developed Countries( LDCs) similar as Nigeria. Nigeria no doubt requires substantial quantities of foreign investment in the construction sector to speed up her profitable growth most especially in the area of structure and construction structure/ installations investment and to promote development, which will in turn boost GDP. The significance of foreign capital for the provision of structure development for both macroeconomic and microeconomic conditioning of the society, can not thus, be overemphasized Todero( 2001) described structure as the pillar of growth in Africa and it’s generally shy and of poor quality when compared to advanced nations of the world. Foreign capital has long been accepted as an ineluctable input in the development process, given the fact that no country is an “ islet ” with tone adequacy on her in terms of demanded coffers, to stimulate profitable growth and development( Orji, 2004). This is a durability from experience of some countries in South East Asia specially, Singapore, South Korea, Taiwan and Hong Kong( Ayo, 2008).