Мухаммед Умар Инува роль транснациональных корпораций

Results 
In Africa, and in particular the sub-
Saharan Africa, there is a general low level 
of infrastructure development, and from 
our introductory background we have con-
jectured that this scenario might be one of 
the reasons Africa share of Direct Foreign 
Investment (FDI) is very low. Consequent-
ly, it is averred here that this might be con-
tributing in slowing down the economic 
development of the African continent as a 
whole and Nigeria in particular. Nigeria as 
a nation has found out that the low level of 
infrastructure development is hindering her 
development and the ability to occupy her 
place among the committee of nations, de-
spite being the largest economy in Africa. 
Nigeria, having about 27 % of Africa‘s 
GDP and 76 % of GDP of the West Afri-
can sub-region, holds a lot of potential to 
unlock Africa‘s development. However, 
Africa's economy is growing and rapidly 
so. Nigeria occupies a key place in this ex-
ponential growth as the biggest economy 
in the continent. As the most populous 
country in Africa, the seventh most popu-
lous country in the world offers a strategic 
market for all manner of foreign invest-
ments. One of such markets is the real es-
tate industry. In recent years the real estate 

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2020 № 2 (70) Вестник Ростовского государственного экономического университета (РИНХ)
industry in Nigeria has been among the 
world‘s fastest growing, and Knight 
Frank‘s 2015 Africa Report claims that 
property searches from outside Nigeria 
have increase from under 30 % to well 
over 45 % of all searches on Knight Frank 
website. This suggests a wave of serious 
interest from foreign investors‘ portfolio 
observers in the Nigerian market. As it is 
expected, there is renewed confidence in 
the industry from both foreign and local 
investors, high demand from a young as-
piring population, rapid urbanization and 
increased rural-urban migration. Yet, a 
pessimistic perspective suggests that the 
impact of TNCs this development could be 
negative due to mounting pressure on in-
frastructure with government struggling to 
keep up with the demand pressure. It is not 
difficult to agree with this view given the 
rising cost of real estate investment in Ni-
geria as investors bear the burden of not 
just providing real estate but necessary in-
frastructure and basic amenities such as 
roads, street lights, water, security etc. 
Arthur Nwankwo (1981) warned and 
argued that no country can actually provide 
the welfare of its citizen as long as its 
economy is shackled. However, many 
studies showed that transnational corpora-
tions are highly adaptive agents and there-
fore, the degree to which foreign direct in-
vestment helps or hurts a developing coun-
try will be heavily influenced by the policy 
choice of the host country. Consequently, 
this study, by looking at FDI as an alterna-
tive financial measure for economic devel-
opment in Africa, making Nigeria a case 
study has established further the frontier of 
knowledge by adding to existing literature 
proponent. Hence, to increase inflow of 
FDI and its performance, the following 
recommendations are postulated: Ugwueg-
be et al (2013) shows that the rate of secu-
rity challenges in the country are alarming. 
Hence, Nigerian government should tackle 
and arrest the security challenges in the 
country most especially in the northern