Anti-Corruption and Foreign Direct Investment in Nigeria (2015–2023): Assessing the Influence of Domestic Anti-Graft Reforms on Investor Confidence

Author's Information:

Abdullahi Lawal Kanoma

Sustainable Development Centre, University of Abuja

Sule Magaji

Department of Economics, University of Abuja. ORCID ID: 0000-0001-9583-3993

Yakubu Jafaru

Department of Sociology, University of Abuja. ORCID ID: 0009-0006-8171-6925

Vol 2 No 07 (2025):Volume 02 Issue 07 July 2025

Page No.: 624-635

Abstract:

Foreign Direct Investment (FDI) is crucial for Nigeria’s efforts in economic diversification, technology transfer, and infrastructure enhancement. This research examines how the anti-corruption reforms implemented during the Buhari administration (2015–2023) affected investor confidence and influenced FDI inflows. Using a mixed-methods approach that combines quantitative analysis of macroeconomic indicators and trends in the Corruption Perception Index (CPI) with primary data gathered from investor surveys, focus group discussions, and interviews with key informants, the study reveals that anti-corruption initiatives have had a modest yet inconsistent impact on investor perceptions. Although transparency showed improvements in specific sectors, ongoing issues such as selective enforcement, inefficiencies within the judiciary, and bureaucratic opacity continued to undermine the credibility of the reforms. The study concludes that investors’ decisions are heavily impacted by their perceptions of institutional integrity, political neutrality in anti-corruption enforcement, and the predictability of regulation. It suggests more profound judicial reforms, the establishment of digital governance, and increased stakeholder engagement to foster enduring investor confidence in Nigeria's economic landscape.  

KeyWords:

Anti-Corruption, Foreign Direct Investment (FDI), Investor Confidence, Buhari Administration, Nigeria, Governance Reforms, Institutional Integrity, Corruption Perception Index (CPI), Economic Policy, Public Sector Transparency.

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