Impact of Multinational Corporation on Economic Growth in Nigeria

Abstract

The impact of the multinational corporation in oil sector has been observed through this study. The study employs secondary data attained from the Central Bank of Nigeria (CBN) Statistical Bulletin and National Office for Technology Acquisition and Promotion (NOTAP). It employs the unit root test and granger causality techniques as the econometric tools of analysis. The Augmented Dickey Fuller (ADF) unit root test results show that all the variables were stationary. The granger causality test results demonstrated that the MNCs in oil and agricultural sectors does have impact on economic growth in Nigeria. Based on these findings, the study recommends amongst others that there is the need for government to create a convenient environment for moremultinational firms to come in to both oil and agricultural sectors in order to gain the advantage of technology transfer to Nigeria. This will in turn enhancement the development process of the economy and also, the need to acclimatize and indigenize the technology that cannot be over emphasized.