Analysis of Growth Trend of Foreign Direct Investment Inflow into the Agricultural Sector.

Abstract

This paper analysed the growth trend of foreign direct investment inflow into the agricultural sector in Nigeria. Time series data spanning over the period of 1981 to 2017 were obtained from the database of the Central Bank of Nigeria and National Bureau of Statistics. Data were analysed with descriptive statistics and growth rate model. The result showed that an average volume of ₦3,801,255,416.90, a minimum volume of ₦117,300,000.00 and maximum volume of ₦59,828,435,508.43 FDI inflow into the agricultural sector were recorded over the period of under study. Instantaneous and compound FDI inflow growth rates of 12.14% and12.91% were obtained. It was concluded that the growth trend of FDI inflow into the Nigerian agricultural sector is appreciable and provides potentials for improved agricultural development in the country.