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.
Kanoma et al. (Tue,) studied this question.
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