EXCHANGE RATE AND FOREIGN DIRECT INVESTMENT IN NIGERIA
Abstract
The study investigated the impact of exchange rates and foreign direct investment (FDI) in Nigeria from 1986 to 2020. To achieve this onerous task, the researchers collected data on exchange rates, exports, imports, and FDI from the Central Bank of Nigeria's statistical bulletin and used multiple regression analysis to analyze the data. The results showed that there was no significant link between exchange rates and FDI in Nigeria, nor was there a significant connection between exports and imports with FDI. However, the study found that exchange rates had a positive influence on FDI in Nigeria. Overall, the study concluded that the combination of exchange rates, exports, and imports had a significant negative effect on FDI in Nigeria. The researchers recommended that monetary authorities maintain a stable and favorable exchange rate to boost foreign direct investment in Nigeria