Imperatives of Localization and Sustainable Performance of Three Sub-Saharan African Economies (1970 – 2018)

Publication Date : 01/01/2020

Author(s) :

Oyakhire, 2Makpor, Samuel.

Volume/Issue :

Volume 1

Issue 1

(01 - 2020)

Abstract :

The study examined the imperatives of localization and sustainable performance of three Sub-Sahara African economies. The population for the survey comprised fourty eight Sub-Sahara Africa countries. The sample size was limited to data from three Sub-Sahara countries (Niger, Republic of Benin, and Nigeria). The time series secondary data of the sample size from 1970 to 2018 were sourced from World Bank data and other related journals. The sourced data were analyzed using regression to test the relationship between the explanatory variables and economic growth with aids of SPSS version 20.0. The study revealed that there was a significant relationship between gross domestic product and foreign direct investment but external debt stock total does not have any significant relationship with gross domestic product. The research findings concluded that, foreign direct investment has significant impacted on sustainable performance, while external debt stock has a negative relationship with gross domestic product. Therefore, the study recommends that, Sub-African nations should considered foreign direct investment as an important tool for sustainable performance, and they should avoid accumulating external debt which has negatively affected sustainable performance.