IMPACT OF HUMAN RESOURCE COMPETENCES AND SOCIO-POLITICAL CIRCUMSTANCES ON FDI INFLOW TO NIGERIA’S BUSINESS CLIMATE

An important phenomenon which shapes business climate trend is traceable to the degree and quality of skill, knowledge, ability and awareness developed in the human mind. Similarly, the extent to which these qualities are deployed in productive human activities are also known to be determined by socio-political circumstances. This study therefore was aimed at investigating the impact of the foregoing factors in attracting foreign direct investment into Nigeria’s business environment. The analysis of data collected during the fieldwork revealed that availability of human resource competencies adequate for attracting FDI inflows into the non-oil industrial sector are grossly unfavourable. It was also found that the nature of the Nigerian society in terms of the impact of security (crime wave), societal perception of foreign investors, level of the stability of the political structure, and socio-cultural circumstances are not favourable in attracting FDI inflows. As a measure of improving the ugly situation, it was recommended that government must invest in skills, knowledge and ability development, especially in area of science and technology. Similarly, greater attention should be paid to issues which ensure stability in the political and security system and thereby foster the spirit of transparency and high level of integrity within the Nigerian business and socio-psychological system.