Globalization And The Problems Of Socio-economic Development In Nigeria

Globalization And The Problems Of Socio-economic Development In Nigeria

Abstract

This study examined the globalization and the problems socio- profitable development in Nigeria. The experimenter thus, reviewed the being literature on the counteraccusations of globalization on the socio- profitable development of Nigeria. therefore, the conception of globalization as well as some factors of Nigerian’s experimental strides and its impact on the third world frugality was critically examined. The study espoused ex post facto design exercising qualitative system of data analysis. reliance proposition was espoused in the analysis of the study. The study concluded that if necessary measures aren’t put in place to insure the attainment of tone- reliance, Nigeria may be barred in this process and globalization of poverty rather than substance and development will be the case for the country. Eventually, grounded on determining recrimination of globalization on the Nigeria frugality, recommendations on the development of Nigerian state to keep pace with globalization trend were stressed, which includes tone- reliance.

Chapter One

Preface

Background to the Study

The conception of globalization has taken a dynamic turn in the contemporary political converse in Nigeria. It’s described as the great profitable event of our period. It’s also because; it’s now bringing unknown openings to billions of people throughout the world. The rapid-fire growth of information technology and the increased global integration of trade and capital which have had profound consequence for the world frugality are performing into significant shift in the world frugality( Francis, 2001). This is because, decreasingly, major opinions around the world are given by global competitive pressure. The speed at which the effect of globalization is spreading is growing fast day by day and no nation can go to be behind if such a nation is to maintain respectable rate of growth and development( Peter; 2002). It’s also observed by Bayo( 2000) that the growing impact of two major distinct global trends, which has profound recrimination on the world frugality, are rapid-fire growth of information technology and the increased global trade integration. He notes that these trends are performing in a significant shift in the world frugality. presumably this is why Eduard( 2002) notes that the people of the earth of the earth have come one large family. To him, information technology has advanced to a position of rendering distance inapplicable.

likewise, he observed that the new time offers new challenges and new global problems, similar environmental catastrophes, extermination of coffers, blood conflict and poverty. The events in the last decade in the global frugality suggest a challenge; the application of the occasion finagled by globalization while at the same time managing the problem and pressure it poses, for developing countries particularly Nigeria. While some individualities similar as Dani( 1999) David( 1997) and Salimono( 1999) comment that globalization opens openings, others similar as Awake( 2002) and Garry( 1998) express fear about globalization. presumably it’s fear anticipated by the people of the world that in December 1999, a meeting of the World Treaty Organization, held in Seattle,U.S.A was intruded by hoot. The demonstrators stressed the goods of globalization on the people and on the earth. Since that timeanti-globalization movements have spread across the globe. It’s still observed that lawyers of globalization have it that it’s the nostrum to utmost of the world problems.

It’s in the light of the above that this paper concentrates its trouble on globalization and Nigerian development; identify the openings for wealth creation handed by globalization, as well as the problems andmacro-economic volatility and insecurity in the income distribution and job security. It’ll go as far as probing on its impact in the Nigerian frugality. To a large extent, this exploration will critical examine in holistic form its romantic conformations on third world countries drawing a clear exemplifications on the Nigerian state.