There is a contention that foreign direct investment (FDI) is a better vehicle for the economic development of poor countries and it should replace foreign aid. This suggestion appeals to many people mainly because to get donor aid has become very difficult and the conditions a country gets are quite stringent. Nigeria is thinking of making a policy shift from donor reliance to reliance on FDI. However, you realize that many people, especially in government, are not very clear as to the exact benefits associated with FDI.
You have been approached and appointed as a consultant to help the government achieve this policy shift. Your brief is to develop a concept paper that will focus on the following:

a) If you believe that foreign direct investments are beneficial to your country, explain, why we don't as a country attract enough to meet our developmental needs? What should we do to attract more?

b) Discuss any issues that have prevented us from benefitting from the any inflows of FDI and what we must do to benefit?

A beg for your assistance fellow nairalanders investors email.... kijanicity15@gmail.com

OP I want to believe this not a term paper but I'll share a bit.
Firms make foreign direct investment decisions based on certain factors. These could be firm specific factors and objectives ranging from revenue drive, following a competitor to a new market in another country, the strain of the liability of foreigness which includes distance culture language and country specific advantages, identification of a viable and vibrant market in terms of size and economy of the target demographics.
There are certain factors that make a country attractive to FDI. These include legal issues, investment laws that bother on allowed ownership structures, tax holidays if any, are it's laws similar in style from country of origin of the FDI etc. Security is another consideration. Infrastructure.... Power roads transport Internet ports banking etc. Then institutions...... Police judiciary arbitration panels customs immigration etc... Are they operating at best practice levels. Furthermore the foreign exchange regime.... Can I get my profit out without stress. Another consideration is polilitical... Is it a democracy? Is there a possibility that the government and governance is unstable and so will translate to unstable policies.
All the issues raised above are major considerations for FDI and no one wants to take their funds to invest in a country where the outlook for these factors are either vague or unhealthy. As I type this Nigeria does not look good. There's a competition out there for this FDI and countries that know the implications are doing all that they can to put these issues which form country specific advantages in the right position. Any one of these not put in place is a risk and nobody likes taking risks or at least let the risk be minimal. For Nigeria to attract FDI I've identified 3 areas that must be tackled.... Security, infrastructure and institutions.
I hope this helps for question number 1.