Abstract:

Nigeria is a country with many unique characteristics. It has the largest economy and consumer market for imported manufacturing products, agriculture produce and the fastest growing population in the continent. By any standard, its economy has all the pull factors to attract foreign investors. However, compared to similar economies in Asia and Latin America, the country falls short of attracting sufficient foreign direct investment (FDI). Commentators have cited corruption as the single most important hindrance to FDI. There are countries with even more FDI than Nigeria. This raises the question as to whether corruption is the single most deterrent to FDI attraction or that lack of FDI attraction can be attributed to a conglomeration of factors including the non-existence culture.