Journal of Emerging Trends in Economics and Management Sciences: Home

Abstract:
This paper aimed at determining the effect of the emerging economic policies on investment in Nigeria. The need for this arose from the concern that huge resources were being expended on public enterprises with little or nothing to show for it and that regulation has discouraged private investments. The purpose therefore was to show why deregulation and privatization became necessary in the Nigerian context and also to show that the activities of the private sector have increased with these policies. Among the hypotheses tested was that pricing of petroleum products does not have significant impact on local investment. Also tested was the hypothesis that corrupt practices do not affect the deregulation and privatization process. Questionnaires were used to obtain information from the respondents. The chi-square method was used in the analysis of responses in which the result was tested at significance level of 0.05. The chi-square method revealed the statistical dependence among variables being studied. The findings in the study revealed that pricing of petroleum products has significant impact on local investment. The study also revealed that corrupt practices would definitely affect the deregulation and privatization process. The study therefore recommended that the public must be educated on petroleum pricing, there must be complete transparency and accountability, and the ownership and management of corporate entities must be left to the private sector.

Keywords: emerging economies; deregulation; privatization; downstream, upstream

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