ABSTRACT

The study empirically analyzes impact of investment on economic growth in Nigeria (1980-2016). The specific objectives include were; to ascertain the impact of export earnings on economic growth of Nigeria; to ascertain the relationship between foreign direct investment economic growth of Nigeria and ascertain the relationship between exchange rate investment economic growth of Nigeria. Data used for the study were analyzed with trend analysis, multiple regression models using the Ordinary Least Squares (OLS) method. The result shows that export earnings and foreign direct investment have positive and significant impact on gross domestic product of Nigeria. While exchange rate has negative and significant impact on gross domestic product of Nigeria. It was recommended that the government should enact necessary control measures on macroeconomic variables and create a favorable environment, so that private sector (both domestic and foreign) can then come forward to strive in the country, since exchange rate has negative impact on economic growth. This is possible by implementing aggressive policy which promotes the trade sector by securing tariff-free access to the markets of developed countries.