Economic Liberalization and Foreign Direct Investment In Nigeria: A Case Study of Songhai Integrated Farm System In Enugu State.
In today’s capitalist production process, the liberalization of foreign direct investment has gained prominent ground in response to the demand of the global society. To meet up with the expectation, the Nigerian government since 1999, when the country embraced the wave of modern democracy strived to key into the globalization agenda of economic liberalization vis-à-vis foreign direct investment. Thus, the aim of this paperis to explore the impact of economic liberalization on foreign direct investment, as it affects the agarian economy in Nigeria. To achieve this, the theory of economic liberalization was employed for analytical purposes. The data for the study were generated mainly from the secondary source, where the examination of relevant documents and books were engaged. From the appraisal, it was established that economic liberalism which guarantees the removal of necessary obstacles to foreign direct investment, ensure the free flow of capital and investment from one country to another. The Nigerian experience in the agricultural sector as witnessed in this paper demonstrated that foreign direct investment, in the agricultural sector promotes entrepreneurship and job creation. The implication is that economic liberalization in the area of agricultural production enhances macro-economic activities and industrialization and subsequent economic growth and development in a developing economy like Nigeria