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Facilitation Of Foreign Direct Investment: Evidence From Cross River State, Nigeria

Author

Listed:
  • Effiom, Lionel

    (University of Calabar)

  • Etim Edet, Samuel

    (University of Calabar)

Abstract

This is a study on foreign direct investment in one of Nigeria's subnational unit – the Cross RiverState (CRS). With an overarching desire to attract private investment into its domain, this study investigates private investment facilitation strategy of CRS. It sought to determine the impact of this strategy on investment generation in the State. It further sought to discover the extent to which the State has 'sold' itself to the world of investors as the number one destination of choice for investment. The methodology employed was both qualitative and descriptive. Findings show that though CRS has established the Cross River State Investment Promotion Bureau (CRSIPB) as the main mechanism with a mandate to market or“sell” the State as a prime location for private sector investment, the reality however is that Cross River State has limited visibility. It is relatively unknown as an investment location and its attractiveness and competitiveness as an investment location is unclear and not well recognised among investors. Put simply, the State does not typically appear on the long-list of location alternatives for active consideration by investors, let alone it being a preferred location in Nigeria. The study recommends, inter alia, that CRSIPB should consolidate its investment generation activities by developing, identifying and targeting individual companies, which fit with the State's investment priorities and targets and initiate constructive and proactive relationship building with such businesses.

Suggested Citation

  • Effiom, Lionel & Etim Edet, Samuel, 2019. "Facilitation Of Foreign Direct Investment: Evidence From Cross River State, Nigeria," International Journal of Contemporary Accounting Issues-IJCAI (formerly International Journal of Accounting & Finance IJAF), The Institute of Chartered Accountants of Nigeria (ICAN), vol. 8(2), pages 75-95, September.
    • Handle: RePEc:ris:ijafic:0025
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    References listed on IDEAS

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    1. Raymond Vernon, 1966. "International Investment and International Trade in the Product Cycle," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 80(2), pages 190-207.
    2. Davide Castellani & Antonello Zanfei, 2006. "Multinational Firms, Innovation and Productivity," Books, Edward Elgar Publishing, number 3709.
    3. A. Bende-Nabende & J. L. Ford & B. Santoso & S. Sen, 2003. "The interaction between FDI, output and the spillover variables: co-integration and VAR analyses for APEC, 1965-1999," Applied Economics Letters, Taylor & Francis Journals, vol. 10(3), pages 165-172.
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    Cited by:

    1. Lionel Effiom & Alfa Charles Achu & Samuel Etim Edet, 2020. "Capital Flight and Domestic Investment in Nigeria: Evidence From ARDL Methodology," International Journal of Financial Research, International Journal of Financial Research, Sciedu Press, vol. 11(1), pages 348-360, January.

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