Socio-economic effects of Asian-led firms projects on development in federal capital territory, Abuja, Nigeria

Abstract

Providing essential infrastructure is a cornerstone of socio-economic development. In developing nations like Nigeria, the presence of Asian multinational firms has generated mutual benefits for both the host country and the corporations. This study examined the influence of Asian-led projects on the socio-economic development of the Federal Capital Territory (FCT), Abuja. Grounded in Stakeholder Theory, the research interrogated whether these community development projects align with the developmental aspirations of the Abuja populace. The study employed a descriptive survey design, drawing a sample size of 400 respondents from a population of 3,067,500 using the Taro Yamane formula. A stratified and purposive sampling technique distributed the sample across the six FCT area councils. Data were gathered via structured questionnaires and literature reviews, then analyzed using descriptive statistics, Linear Regression, ANOVA, and trend analysis. Findings reveal that Asian investments present mixed outcomes, balancing physical infrastructure improvements with concerns regarding local employment quality and social welfare. The overall neutral sentiment indicates that while standard of living improvements are modest, robust regulatory oversight and enhanced technology transfer are required to maximize the socio-economic benefits for local residents.