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The study investigated the impact of foreign direct investment in Nigeria. The study employs the cointegration ad error correction mechanism to verify the nature of long run and short run relationship between growth of Nigeria and foreign direct investment. The result indicates that foreign direct investment has both long run and short run significant impacts on the growth of Nigeria. However, among all the variables used exchange rate also proved to have a short run significant impact on the growth of Nigeria and the relationship indicates that currency appreciation might not promote the growth of Nigeria at least in the short run. The policy implication is that efforts to stimulate growth of Nigeria through FDI should be supported with exchange rate policy that will make naira to be over-valued as this may squeeze out the tradable sector of the economy.

Assessment of the Impacts of Foreign Direct Investment and Interest Rate on the Growth of Nigerian Economy