아프리카ㆍ중동

Nigeria is the most populous black nation in the world, with its economy on a steady growth path. Before independence, agriculture was the major source of revenue for the country until the discovery of crude oil in export quantities. In recent years, Nigeria jilted other sectors and industries and depended on crude oil sales as a major source of foreign revenue, thus making the nation operate a mono-economy. FDI plays a crucial role in the development of any country. However, Nigeria has not been able to fully harness the potential attributed to FDI. The global oil price constantly fluctuates due to external shocks and other factors, causing rises and falls in the price of crude oil per barrel. High insecurity in Nigeria, oil theft, corruption, and Nigeria not meeting up to the quota allocation from OPEC have also contributed to a decline in oil revenue and affected the inflow of FDI into the country. These factors are reasons why there is a question mark on how sustainable the economic growth trajectory of Nigeria is. This research aims to investigate the sustainability of the economic growth of Nigeria in comparison with the economic growth of Algeria using time series analysis. This study applied descriptive statistics, regression analysis, and Granger causality tests. The research findings show that Nigeria's economy performed better than Algeria's economy. However, the study discovered a weak relationship between the GOP and Nigeria's economy, the null hypothesis was not rejected for the effects of FDI and oil prices on economic growth. Recommendations on how the government can formulate and implement policies that will help boost the country's economic growth and development were provided.