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Research & review articles are invited for publication in October 2026 (Vol. 29, Issue 1) || Submission: up to 28th October || Editorial decision: within 48 hrs.

GENERATING FUNCTION FOR FOREIGN DIRECT INVESTMENT AND ECONOMIC GROWTH IN NIGERIA FROM 2005 TO 2024

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  • GENERATING FUNCTION FOR FOREIGN DIRECT INVESTMENT AND ECONOMIC GROWTH IN NIGERIA FROM 2005 TO 2024

Elias Ikechukwu Chukwuma *, Nwosu Augustine Ikechukwu and Precious Chikaedum Agina

Department of Mathematics, Faculty of Physical Sciences, Chukwuemeka Odumegwu Ojukwu University, Uli, Anambra State, Nigeria.
* Corresponding Author

Research Article

Global Journal of Engineering and Technology Advances, 2026, 29(01), 270–283

Article DOI: 10.30574/gjeta.2026.29.1.0301

DOI url: https://doi.org/10.30574/gjeta.2026.29.1.0301

Received on 10 September 2026; revised on 18 October 2026; accepted on 20 October 2026

Foreign Direct Investment (FDI) is widely recognized as catalyst for economic growth, technological advancement and institutional development especially in developing country. The relationship between foreign direct investment and economic growth in Nigeria has attracted considerable attention over the years. The role played by foreign direct investment in economic growth in Nigeria cannot be overemphasized. Foreign direct investment is a key contributor to the economic growth in Nigeria. The aim of this study is to develop the generating function for foreign direct investment and economic growth in Nigeria from 2005 to 2024 using Newton’s Backward Difference Method. Furthermore, we shall examine the impact of foreign direct investment on economic growth in Nigeria. The result of the study reveals that the generating function for foreign direct investment and economic growth in Nigeria from 2005 to 2024 is
y=-1.051×10-177 x19+3.7775×10-166 x18-6.4307×10-155 x17+6.8921×10-144 x 16-5.2136×10-133 x15+2.9576×10-122 x14-1.3048×10-111 x13+4.5813×10-101 x12-1.2990×10-90 x11+3.0008×10-80 x10-5.6709×10-70 x9+8.7669×10-60 x8-1.1043×10-49 x7+1.1240×10-39 x6-9.1283 ×10-30 x5+5.8084×10-20 x4-2.8245×10-10 x3+1.0098x2-2.4492×109 x+3.1381×1018
 

Foreign direct investments, Economic growth, Economic development, Gross domestic product and spillover

https://gjeta.com/sites/default/files/fulltext_pdf/GJETA-2026-0301.pdf

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Elias Ikechukwu Chukwuma, Nwosu Augustine Ikechukwu and Precious Chikaedum Agina. GENERATING FUNCTION FOR FOREIGN DIRECT INVESTMENT AND ECONOMIC GROWTH IN NIGERIA FROM 2005 TO 2024. Global Journal of Engineering and Technology Advances, 2026, 29(01), 270–283. Article DOI: https://doi.org/10.30574/gjeta.2026.29.1.0301.

Copyright © Author(s). All rights reserved. This article is published under the terms of the Creative Commons Attribution 4.0 International License (CC BY 4.0), which permits use, sharing, adaptation, distribution, and reproduction in any medium or format, as long as appropriate credit is given to the original author(s) and source, a link to the license is provided, and any changes made are indicated.

All statements, opinions, and data contained in this publication are solely those of the individual author(s) and contributor(s). The journal, editors, reviewers, and publisher disclaim any responsibility or liability for the content, including accuracy, completeness, or any consequences arising from its use.

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