Мухаммед Умар Инува роль транснациональных корпораций

Materials and methods 
Nigeria has played host to transna-
tional corporations (TNCs) long before 
independence till date. Number and activi-
ties of these transnational corporations 
(TNCs) have grown over time as Nigeria 
struggles to develop socio-economically as 
a nation. After fifty years of nationhood, 
the economic growth trajectory of Nigeria 
is at best cheered in spite of the growing 
presence of these transnational corpora-
tions (TNCs) in its core sectors of oil, 
banking 
and 
manufacturing 
sectors 
(Awolusi, 2012; Onudogo, 2012). The 
study of Otokiti (2012) revealed that chal-
lenges faced by transnational corporations 
(TNCs) during entry into Nigerian market 
include government regulations and poli-
cies, geographical location, language barri-
er, shortage of skilled labour and low level 
of technological development. From a 
technology transfer perspective, weak lev-
els of intellectual property protection in 
developing countries prevents both down-
stream and up-stream technology transfer 
activities; fear of unauthorized use of pro-

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2020 № 2 (70) Вестник Ростовского государственного экономического университета (РИНХ)
prietary knowledge prevents foreign com-
panies from entering into technology trans-
fer activities with local entities (down-
stream technology transfer); on the other 
hand it also deprives local innovators of 
opportunity to license their inventions to 
foreign entities (up-stream technology 
transfer) (Awolusi, 2012; Awolusi, 2012b; 
Diamant, Davison and Pugatch, 2007) [2]. 
According to Oyejide (2005) con-
cluded that capital flows have their ad-
vantages and disadvantages. This however 
totally depends on the initial conditions of 
the developing economy concerned. It in-
deed can stimulate growth of the real sec-
tors when the initial conditions are right. It 
could retard growth however, due to mac-
roeconomic shocks that could undermine 
the stability of real sector and impose 
higher adjustment cost on the economy. 
Otepola (2002) examines the importance 
of foreign direct investment in Nigeria. He 
concluded that FDI contributes significant-
ly to growth especially through exports. 
The Nigerian governments have taken 
measures to attract foreign investors into 
the country in order to augment domestic 
resources to finance planned growth. The 
measures which indeed include the repeal 
of laws that are inimical to foreign invest-
ment, different oversea trips for image 
laundry by the government. A related ef-
fort was the restructuring and reforming 
banks in Nigeria with a view to reposition-
ing and stabilizing their operations and in 
the long-run enhance the level of financial 
inter mediation in the country (Osuagwu 
and Nwokoma, 2017). Consequently, the 
amount of FDI inflow into Nigeria has 
reached about 2.23 billion USD in 2003 
and it rose to 5.3 billion USD in 2004 and 
in 2005 rose to 9.92 billion USD (total of 
87 % increase). In 2006 the figure declined 
to 9.44 billion USD has continued to de-
cline since 2006 up till 2015 (Central Bank 
of Nigeria-CBN) [3]. 
However, Nigeria received $ 5.36 
billion capital importation (inflows) in the 
third quarter (Q3) of 2019, compared to 
$ 5.82 billion in the second quarter (Q2). 
This is the inflows received in the year due 
to the bother closure. However, the latest 
capital importation report shows a worry-
ing trend. For example, the inflows of FDI 
into the economy dropped further, FDI re-
mains abysmally low. Analysts have stated 
that the low inflows of FDI is not good for 
the economy as other forms of capital im-
portation has very low potential to drive 
the economy as FDI does. According to the 
latest capital importation report released by 
the National Bureau of Statistics (NBS), 
$ 5,36 billion capital importation received 
in the third quarter represents a -7,78 % 
contraction from the total amount ($ 5,82 
billion) received within the second quarter 
(Q2). Meanwhile, year-on-year, capital 
inflows rose by 87,99 % [3].