Nassar Lanre
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Taxation, exchange rate and foreign direct investment in Nigeria
Olubukola Ranti Uwuigbe , Ayomide Omoyiola , Uwalomwa Uwuigbe , Nassar Lanre , Opeyemi Ajetunmobi doi: http://dx.doi.org/10.21511/bbs.14(3).2019.07Banks and Bank Systems Volume 14, 2019 Issue #3 pp. 76-85
Views: 1197 Downloads: 194 TO CITE АНОТАЦІЯThis paper investigates factors that may impact foreign direct investment in Nigeria. It seeks to establish the role of taxation (corporate tax) for foreign direct investment in Nigeria. Annual time series data derived from the Central Bank of Nigeria statistical bulletin and the United Nations Conference on Trade and Development covering a period of 31 years (1985–2015) were used for this study. The variables considered in the study include FDI, corporate tax, exchange rate, inflation rate, real gross domestic product (RGDP). They were analyzed using Ordinary Least Squares (OLS), Johansen Co-Integration model and Unit Root Test. Findings from this research observed that a negative relationship exists between corporate taxation and FDI. Also, the study observed that corporate tax have a significant impact on FDI and there exists a long-run relationship between the two variables.
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