Abstract

Nigeria and indeed Africa is highly under favoured in the global distribution of foreign direct investment (FDI) inflows.  When compared with other countries and continents, the FDI inflow into Nigeria and Africa is regrettably the least.  From available research evidence, whereas Asia, and the Latin America and Caribbean receive 22% and 14% respectively, Africa receives only a paltry 0.6% from, the total global FDI inflow.  Africa’s low FDI receipts has been attributed to the continent’s global poor image standing which greatly act as serious disincentive to investment in the  continent when compared to other continents as investors develop low confidence.  Like every other African country, Nigeria suffers the same fate of low FDI inflow and as such can only overcome it through a sustained rebranding campaign programme that involves all and sundry in the country. Such sustained rebranding campaign program serves as the only major means of erasing the country’s multiple images and as such raise investors confidence in the country.  To achieve that, this paper proposes a marketing communications model of LICOMC that is based on true leadership, infrastructure development and cultural reorientation among the citizens as well as an integrated marketing communications strategies.  This, the paper strongly believes, would go a long way in attracting a sustained foreign direct investment inflow into the country and also make Nigeria’s lofty vision 20:2020 much more feasible.

Key Words:  Foreign Direct Investment, Economic Growth, Branding,

                       Rebranding Strategies, Sustainability.

^JCMRJournal of Communication and Media Research, Vol. 5, No. 1, April 2013, 171 – 181. 

©Delmas Communications Ltd

About the authors

*Charles E. Obeta is a Lecturer in the Department Of Marketing, Faculty of Business Administration, University of Nigeria, Enugu Campus, Enugu, Nigeria.

**Prof. Aham E. Anyanwu is a Professor in the Department of Marketing, Faculty of Business Administration, Imo State University, Owerri, Nigeria.

Full Article

Words: 5,599; Pages: 11