Globalization and economic development plays a pivoted role in the Nigeria economy. This work is geard towards x-raying role of globalization in economic development of the nation. They study was limited to the federal ministry if information and communication. The study went further to x-ray the challenges confronting globalization in the nation. To ensure the realization of the objective of this work, collection of data was based on questionnaire and oral interview. Secondary sources were also explored. The yaroyamani statistical tool was used to determine the sample the validity and reliability of instrument were shown. In the chapter four, the research presented and analyzed the data gotten from the questionnaire by using simple tables and percentage also the hypotheses put up were vividly tested using the chi-square formular.
Finally in chapter five all findings were critically discussed. The findings revealed that globalization creates freedom to trade among nations, and also bilateral relation among nations.In conclusion this work, show that globalization can be an effective tool for economic development in the nation. Recommendations were also made, as to fashion out way to improve the economy via globalization and for government to provide the ministry with the required assistance.
1.1 BACKGROUND OF THE STUDY
A brief look at Nigeria today one carryout find out that, like fashion and everything new in Nigeria, the spirit that greeted (the issue of globalization at its chmaxin 200) seems to have reduced.
The word globalization also seen to have, gone into our libraries as we have the internet and cyber café, globalization has been defined by john vogi (vanguard 2003) means a world that is liberalized of barriers to trade and invest where corporation can product and sell almost any services and product almost anywhere globalization also in recent time 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 interconnectedness of the modern world. Furthermore, any nation or country globalization sets in the economic of that nation starts waxing stropping. According to Ayodele 1995), the increased of movement of goods, services, capital, people and information access national borders is rapidly creating a single global economy.
The process is driven by technological advance and reduction in the costs of international transactions, raise the share of trade in the world pf production and increase the mobility of capital. accounting jack straw, British pronounced in the relationships between the developed western world, which are owners of the new technologies, and the poor developing counties` which are by large consumers of the new capitalities Nigeria is in global village hence is an importer of goods and services.
1.2 STATEMENT OF PROBLEM
Globalization brings about economic development in an economy globalization, is termed to be a systematic way which technological advanced countries relate with non- technological advanced countries to develop them by way of investing in the economy. However, the effect of globalization on developing and undeveloped countries can be vividly seen, as the developed nations (i.e. technological advanced countries) tend to use the undeveloped and developing countries as their dumpling ground, for their used products and their substandard products for example electronic.
Also globalization has also faced the challenge of culture and language barrier, the variation in culture and languages of the different countries tend to affect the bilateral relations one of the challenges of underdevelopment is the inability of a country to produce and create unemployment for its citizenry, in order to meet up with economic needs and social economic needs of its members
However, the research study is geared towards using the research study to solve these challenges, in the Nigeria economy.
- RESEARCH QUESTION
- What are the effects of globalization on the Nigerian economy?
- What obstacles to development face Nigeria in the global community?
- What are the possible strategies for enhancing the development of Nigeria in a globalized world?
- Does the citizens have any role to pay in enhancing economic development in the globaized world?
1.3 PURPOSE OF THE STUDY
The purpose of this study is to determine the relevance of globalization in the economic development in Nigeria. Specifically the study will determine the following.
- Determine the effect of globalization on economic development
- to findout how globalization can assist in Nigeria’s economic development
- To examine the effects of globalization on the Nigeria economy
- To identify the obstacles to globalization and economic development in Nigeria.
- SIGNIFICANCE OF THE STUDY
The result of project research work will be significant to the worker as an individual, the Nigeria masses and the government in general.
- The study give a clear explanation of the role and importance of globalization in the economic development of Nigeria.
- The research study will be suggest ways of improving Nigeria economy by ways of suggesting how globalization can be use to develop the economy in the country.
- The study will assist the country on how to maximize the potential of globalization, in developing the Nigeria society.
- the study will expose ways of improving economic development in Nigeria through globalization
- .They will suggest and make recommendation that will be use as a guide for further studies on this project, to any student that world carry out research on similar topic.
1.6 SCOPE OF THE STUDY
The research is limited to globalization and economic development in Nigeria with emphasis placed on the ministry of petroleum resource in Nigeria.
1.7 LIMITATION OF THE STUDY
During the research work many problems came upon which some of them are:-
FINANCIAL CONSTRAINT: as a student there was not enough capital to spend in transportation and fact finding in writing this research work.
TIME CONSTRAINT: there was really not friendly considering the academic activities of the researcher and the time of project work.
ACADEMIC WORK LOAD: the study coincided with the period researcher was preparing for Higher National Diploma (HND) examination.
All these problems notwithstanding the researcher still mode a concerted effort in giving the work a good attempt.
1.8 DEFINITION OF TERMS
The technical terms in this study are defined here for proper understanding of their meaning and applications in the study.
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 boarder is rapidly creating a single global economy.
GOVERNMENT: this is the agency of the rulling class, which is changed with the responsibility of exercising the state power on behalf or the people.
ECONOMIC GROWTH: this can be defined as the process whereby the real per capital income of a country increase over a long period of time economic growth is measured by the increased.
1.9 Organization of the Study
This research work is organized in five chapters, for easy understanding, as follows. Chapter one is concern with the introduction, which consist of the (background of the study), statement of the problem, purpose of the study, research questions, research hypotheses, significance of the study, scope of the study etc. Chapter two being the review of the related literature presents the theoretical framework, conceptual framework and other areas concerning the subject matter. Chapter three is a research methodology covers deals on the research design and methods adopted in the study. Chapter four concentrate on the data collection and analysis and presentation of finding. Chapter five gives summary, conclusion, and recommendations made of the study.
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