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For several decades, various scholars have raised questions on whether political systems, political stability
(or instability), democracy, or autocracy support private investment. This study therefore investigated the impact of
political regimes on private investment in Nigeria. Adopting the Ordinary Least Squares Regression and Dummy
Variable Model, the results show that there is no statistically significant difference between the two regimes in terms of
their positive relationship with private investment. Some other variables adopted in the model were statistically
significant, and they do matter where other political variables are held constant. Furthermore, in the test for structural
breaks, political regimes have no significant breaking point in their relationship with private investment. Therefore, the
study concludes that because the effect of political regimes on private investment is positive, there is need for the
political managers of the current democratic regime to make the environment conducive for businesses and other
investments to thrive.
