The main aim of the research project dwells on Globalization and
Economic Development in Nigeria an Assessment. Globalization was viewed
as the bilateral relations that exist betweens countries for either
political or economical purpose and also as a means of developing the
under developed countries with technological advancement from developed
countries. The review of different literatures in the chapter of the
work, looked at the challenges of globalization, in underdeveloped
societies, as language barrier, political interference, policies,
education etc. The impact of globalization was viewed from different
perspectives, both negative and positive, globalization has assisted
Nigeria as a developing country, in competing with other developed
countries. Both primary and secondary sources of data collection were
used, the population of the study was determined by the use of
chi-square statistical formular, and the data of the study were analyzed
with the use of simple lable and percentage. The findings of the study
revealed that globalization has made the in undeveloped countries to
become a dumping ground for the developed societies, the findings
further revealed that with the aid of globalization the world is now a
global village. The study recommended that the government should enter
into bilateral relations that will assist to develop the economy of the
country, and also government should release found for research and
sciences, so as the bring about economic development in the country.
TABLE OF CONTENTS
1.1 Background of the study
1.2 Statement of the Problem
1.3 Objective of the study
1.4 Research Question
1.5 Significance of the Study
1.6 Scope of the Study
1.7 Limitation of the Study
1.8 Definition of Terms
2.1 Positioning Nigeria for development in an era of
2.2 The Challenges of Globalization
2.3 Globalization and Economic Development
2.4 Obstacles of Globalization
2.5 Benefits of Globalization
2.6 Effect of Globalization
RESEARCH DESIGN AND METHODOLOGY
3.1 Research Design
3.2 Area of the Study
3.3 Population of the study
3.4 Determination of Sample Size
3.5 Method of Data Collection
3.6 Validation of Data Instrument
3.6 Reliability of the Instrument
3.7 Method of Data Presentation and Analysis
4.1 Data Presentation
4.2 Data Analysis
SUMMARY OF FINDINGS, RECOMMENDATION AND CONCLUSION
5.1 Summary of Findings
1.1 BACKGROUND TO THE STUDY
A brief look at Nigeria today one can find out that we like fashion
and everything new in Nigeria, the spirit that greeted the issue of
globalization at its climax in 2000 seemed to have reduced.
The word globalization also seems to have gone the internet,
computerization and cyber café. Globalization as an economic concept has
been viewed at differently by different academic scholars, to represent
so many things. However, globalization has been defined by John Vogi
(Vanguard 2003) to mean a word that is liberalized of barriers to trade
and invest where cooperation can produce and sell almost any service and
can produce an
Globalization also in recent times involves trillions of dollars of
investment. Globalization whether for or against remains a subject on
which there has been comprehensive and unyielding misunderstanding
especially concerning the constraints that it does not place on the
power of government.
Moreover, since globalization also means the growing inter-dependence
and inter-connectedness of the modern world, it boosts the economic
Furthermore, any nation or country globalization sets in the economy
of that nation starts waxing strong. According to Ajodele (1995), the
increase of movements of good, services, capita and information access,
national borders is rapidly creating a single global economy.
The process is drawn by technological advance and reduction in the
cost of international transactions, raise the share of trade in the
world of production and increase the mobility of capital. According to
Jack show, British Foreign secretary in a write up the international
Guardian of September 10, 2011, he said attempts to manage change in
global levels are in their infancy. To him global market, global, world
wide access to each other and information both give us a sense of
Steward (1990) noted that the impact of globalization on poor people
varies widely both between countries and within them, depending on
initial circumstance and on the policies that government pursue. For
instance in China poor people living in coastal province have benefited
more from increased export and investment than those in land provinces.
Globalization however has continued to angender enormous debate
controversy, protest and demonstrations that are some times violent in
The reaction to the concept of globalization and its application to
human development have been significantly more pronounced in the
relationship between the developed western world which are owners of the
new technologies and the poor developing countries which are by and
large consumers of the new capitalist economy. Nigeria is in the global
village hence is an importer of goods and services.
1.2 STATEMENT OF THE PROBLEM
Globalization brings some systematic risk for example, the damaging
effect of financial vitality were vividly illustrated in the Asian
crises of 1997. Greater access to the global pool as saving through
capital markets offers developing countries, the levels that can be
supported from domestic savings alone, but the Asian experience indicate
clearly that openness to start term portfolio flows can be damaging in
the observe of sound macroeconomic position adequate domestic regulating
and transparency in relationship between companies and banks.
One of the major reasons for creating the ministry of information and
communication in Enugu state in particular is to bring about economic
development in state. This noble objective or aim is not fully
authorized because of the short comings of the ministry sequel to the
fact that the use of human resource is not fully harnesses and lack of
modern technological and information gadget is not in the ministry of
communicate globalization properly to the people. The recent happenings
from the developed, countries poor knowledge of information flow to the
people from the ministry and lack of implementation of government
policies to infrastructural development is one of the challenges of the
ministry of information is fast becoming the basis of development and
its absence or insufficient flow may in turn becomes a new dimension of
poverty. Information and technology is obviously widening the gap
between the rich and the poor.
1.3 OBJECTIVES OF THE STUDY
The purpose of the study is to determine the relevance of globalization in the economic development in Nigeria.
Specifically the study will determine the following
1. To determine the merit of globalization
2. To determine the demerit of globalization
3. To ascertain the effects of globalization in Nigeria economy.
4. To identify the obstacles to globalization
5. To suggest the possible strategies for enhancing the development of Nigeria in the era of globalization.
1.4 RESEARCH QUESTION
1. What are the effects of globalization on the Nigerian economy?
2. What are the obstacles to development in the global community?
3. What are the possible strategies for enhancing the development of Nigeria in the era of globalization?
4. Does the citizens have any role to play in enhancing economic development in the global era?
5. What are the importance of globalization to Nigeria economy?
1.5 SIGNIFICANCE OF THE STUDY
The result of this project research will be significant to the
workers, individuals, the Nigerian masses and the government in general.
1. The study will give a lucid explanation of the role of globalization in the economic development of Nigeria.
2. The study will show how lack of infrastructural development can hinder globalization and economic development.
3. The study will suggest ways to strengthen the nations infrastructural development and foreign partnership.
4. The study will expose ways of improving economic development in Nigeria through globalization.
5. The study will suggest and make recommendation that will be used
as a guide for further studies on this area of study to students and
those who will find interest in it.
1.6 SCOPE OF THE STUDY
The research study is restricted to globalization and economic
development in Nigeria, an assessment of its impact on the social
economic development in Nigeria economy.
1.7 DEFINITION OF TERMS
Development: This is the level of physical environment, social, political and economic growth or civilization of the people.
Globalization: is the increased movement of goods,
services, capital, people and information across national borders is
rapidly creating a single global economy.
Government: This is the agency of the ruling class
which is charged with the responsibility of exercising the state powers
on behalf of the people.
Economic Growth: This can be defined as the process
whereby the real per capital income of a country increased over a long
period of time, economic growth is measured by the increased.