FOREIGN DIRECT INVESTMENT IN CROSS RIVER STATE, NIGERIA: An Evaluation of Investment Policy Framework
FOREIGN DIRECT INVESTMENT IN CROSS RIVER STATE, NIGERIA: An Evaluation of Investment Policy Framework |
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Category: Journal Articles
Author: Lionel Effiom & Ebi Bassey Okon
Volume: 58 Issue No:3 Year:2016
Abstract: Against the backdrop of a declining economy, occasioned by falling oil prices, factory closures, job losses, escalating prices due to surging exchange rate, waning GDP growth, weakening investors’ confidence, and the need for greater private sector involvement in growing the economy, this study evaluates the investment policy environment of one of Nigeria’s sub-national units (Cross River State) against one of the OECD’s Policy Framework for Investment (PFI) benchmarks. Within a theoretical and descriptive methodology, its findings indicate that though Cross River State has a long-term economic development objective of increased growth and employment, underpinned by private sector investment, its government, however, does not have a clearly articulated investment policy in place. It recommends the preparation of a coherent private sector investment policy which should address the state government’s policy position on foreign ownership, minimum investment requirements, and expropriation of assets, among many other critical gaps noticed in the state investment position and at the federal level.
JEL Classification: F21
Price: N500.00 | 
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Kano State, the commercial city of Northern Nigeria will host NES 63rd Annual Conference 2022. The c
The Nigerian Economic Society wishes to inform the general public on her forthcoming Annual Conferen
63rd ANNUAL CONFERENCE ANNOUNCEMENT
26 - 30 September 2022
Venue: Kano, Kano State, Nigeria
At the end of the Annual General Meeting (AGM) during the 62nd Annual Conference of the Society held