TABLE OF CONTENTS
TABLE OF CONTENT
Cover Page i
Certification ii- iii
Table of Content vi
CHAPTER One: INTRODUCTION
1.1 Background Information 1-4
1.2 Statement of the Problem 4-5
1.3 Objectives of the study 5-6
1.4 Research Questions 6
1.5 Significance of the Study 6
1.6 Scope of the study 7
1.7 Organization of the study 7
1.8 Definition of terms 7-8
Chapter Two: LITERATURE REVIEW
2.0 Conceptual Clarification 10
2.1.1 Globalization 10-17
2.1.2 Economic Development 17-19
2.2 Theoretical Framework 20
2.2.1 The dependency theory 20-23
2.2.2 Neo Marxist theory 23-29
CHAPTER Three: METHODOLOGY
3.1 Research Design 33
3.2 Research Population 33-34
3.3 Data collection 34
3.4 Sampling and sampling techniques 34
3.5 Research instrument 34
3.6 Questionnaire 34-35
3.7 Data Analysis Technique 35
CHAPTER Four: DATA ANALYSIS
4.1 Introduction to Data Analysis 37
4.2 Analysis of all data collected 37-47
CHAPTER Five: CONCLUSION
5.1 Summary 48
5.2 Conclusion 48-49
5.3 Recommendations 49-50
Appendix I 55-57
Existing narrative on globalization has mostly been couched in positive light; and even when
some negativity is explained, it exposes little, and thereby leaves much to be desired.
Considering the phenomenon as a serious event that impacts on several facets of the state, one
realizes that extant literature are yet to fully capture the impact that the phenomenon has had on
This study, though not meant to contend perspectives, is conducted in order to excoriate the
façade often put forward in order to shroud the negative dimension of the impacts of
globalization on and/or in Third World countries, particularly Nigeria. In this vein, the study
adopts Dependency and Neo-Marxist orientations in order to explain how globalization has
impacted the Nigerian society. Following on this, both primary and secondary sources of data
were explored while gathering the necessary data used in the process of writing this study.
Flowing from the foregoing, the study, while agreeing with the existing narratives on the positive
impacts that globalization might have had on Nigeria, it finds out that the phenomenon has not
only deepened the dimension of poverty and underdevelopment in the country, but has brought
to bear dangerous type of asymmetry in Nigeria‟s relations with the major powers within the
1.1 BACKGROUND OF THE STUDY
Although the word globalization was not coined until the second half of the twentieth
century, the origin of globalization has been traced back to the period between 1450-1500 A.D.
A period referred to as the mercantilist period and characterized by the development of trade in
the quest for commercial empires to broaden their markets (Amiuwu, 2004, Scholte, 2002).
Cited in (Ugbam, etal, 2014) since then, propelled by incredible advancements in
transportation and information technology, globalization has practically shrunk the world to one
global village. Initially, globalization was seen as an economic phenomenon and in fact, some
economists still define it from a purely economic perspective. However, it is now obvious that
although it was triggered by economic motives it has far reaching effects in all aspects of life
especially in the areas of politics, culture, technology and the environment.
Globalization is a complex and multifaceted phenomenon. It is the process of
international integration as a product of exchange of world views, products, ideas and other
aspects of culture in which worldwide exchange of national and cultural resources occurs in the
process. Many factors contributed to the growth of globalization, the major being advancement
in transportation and communication. The current wave of globalization is nothing but the result
of Schumpeterian evolution in technology along with interaction of many actors at different
levels of the economy.
Globalization means different things to different people. For some it creates positive
political, economic and technological progress. For a few, globalization has changed situations in
such a manner that power of state is determined by power of firm. If the goal of globalization
was more liberal exchange of goods, services, labor, thoughts etc which in later stages would
make world uniform, then there would be no space for identity. Globalization is not a debate
about divergence or convergence, but it is a dialectical process which can both integrate and
fragment along with creating both winners and losers. Today what we see is the downside of
Globalization effects are not optional for developing countries especially Nigeria, but as
compelling and imperative. Developing countries are pulled into global political, economic and
social relationship without their consent. Coincidentally, for the mere fact that global wealth is
unevenly distributed, globalization today is often seen as a refined version of capital imperialism.
As according to Ojo (2004), rather than fostering a sense of common interest in the global
village, neo-liberal economic practices are bringing the world back to the Darwinian jungle of
the survival of the fittest in which everything exists in perpetual state of fierce competition in
pursuit of self interest.
Globalization trend has also had an adverse effect on the socio-cultural development of
Nigeria. The social aspect is that globalization has deeply influenced the social structure of
different societies. Every society used to have its own unique culture with respect to the
language, social norms, morality, civic sense etc. With the advent of media which aids this
special capability to influence millions at the same time has challenged the social institutions of
the society mainly family.
A particular society following their style of living without being much influenced by the
western culture is now seen as „uncivilized‟ which was a very cunningly designed propagandaof
the west to inculcate their culture into the rest of the world and thereby dominating the globe.
“Culture links us to our historical past. It spells a particular way of people‟s behavior, ways of
acting and thinking. Culture also defines the value system, customs, education and knowledge of
Culture is the vehicle through which knowledge, beliefs, arts, morals, laws, customs and any
other capabilities and habits are transmitted to members of a community from generation to
Accordingly, culture consists of values and rules we live by, our ideas of good and evil, our
language and our religion. However, for Nigeria this great phenomenon (socio-cultural), that
gives people identity, personality and individuality has beenobscured by globalization. The
hegemonization of culture by the Western world or rather America, is an overt attempt to leave
us here in Nigeria without identity, individuality and personality. The overall effect on us is that
we become mindless atoms in the material world. “We become a people without any historical
Maduagwu (2003) lamented the corrosive effect on our cultures as he observed that since our
experiences with colonialism,African countries, Nigeria have been unable to independently
articulate or chart their history, culture and identity.
The cumulative effect therefore is that our “culture is largely influenced by the perception and
worldview cultivated as a result of slavery as well as our colonial and post-colonial education
and finally by the current trend in economic globalization; consequently we undervalue the
potential contributions that our cultural heritage can make to our contemporary developmental
efforts (Bello, 2001). It is against this background that this work was conceived with the major
aim of critically assessing the impact of globalization on socio-cultural development in Nigeria.
Globalization is rooted in multinational trading and investments arrangements and the
opening up of trade, through liberalization of the financial sector as well as the economy as a
whole. The reasoning behind this policy thrust is that the promotion of trade enriches the wealth
of nations. For instance, trade liberalization under the Uruguay round of multilateral trade
agreement of 1995 was estimated to have provided over 100billion U.S dollars a year in net
benefits accruing mainly to those countries that have removed trade barriers (Hausters&Gerd,
1.2 STATEMENT OF PROBLEM
Globalization free-trade has impacted the African continent immensely, particularly by
engendering the ongoing economic growth in some regions of the continent. Nigeria, which is
seriously festooned with both human and natural resources, which if adequately harnessed, can
turn around not only its economy but the entire economy of Africa. Regrettably, this has not been
possible because Nigeria has allowed herself to be used as a dumping ground for all sorts of
imported goods from the foreign industrial countries and also Hong Kong, Singapore, South
Korea and Taiwan (mostly regarded has the Asian tigers). Consequently, this has had an
unpleasant impact depending on the lens from which it is viewed on capacity utilization of
various sub-sectors of the Nigerian manufacturing sector, the creation of employment
opportunities, the rate of social vices in the society and the severe hemorrhage of funds from the
country‟s coffers by political elites, bureaucrats, military elites and the numerous multinational
companies who make their forays within the country.
Indeed the impact of globalization on Nigeria and its contributions to the country‟s
economy, creation of job opportunities and the level of economic growth through the infusion of
foreign capital and advanced technology is inevitable (Aina, 1996; Abubakar, 2001; Jubril, 2001;
NCEMA, 2002; Aluko, Akinola and Fatokun, 2004; Sagagi, 2004) and as such, cannot be
overemphasized. However, in the face of serious negative fallouts that the phenomenon
Globalization is bringing to bear on the continent, an instance of which is the restriction of
African units, majorly to the status of producers of raw materials and consumer of manufactured
goods, and the consequent restriction of African countries in really defining their priorities of
national growth; one wonders about the continuous celebration of the phenomenon as bringing
salubrious situations to bear on the continent; particularly on Nigeria which happens to be the
largest economy in the continent. Given this foregoing, this study, while not grappling issues
with extant views, seeks to demonstrate how globalization impacts, both positively and
otherwise, on Nigeria‟s development and economy.
Though the explanation of the positive aspect would probably reflect some of the existing
claims; the study however goes further to nuance the untoward fallouts of globalization for both
the development and economy of Nigeria. This becomes important since the country, since it has
linked to the global market, does not seem to have made any appreciable progress in its
economic and developmental agenda.
1.3 OBJECTIVE OF THE STUDY
The In the light of the above, therefore, the broad objective of the study is to investigate the
nexus between globalization and developmental and economical concerns in Nigeria.
(1) The specific objectives of this study are to: properly nuance globalization in the Nigerian
(2) identify how globalization has impacted the Nigerian state;
(3) analyze the implications of such impacts, both the positive and the negative fallouts, for
the bifurcated developmental and economic agenda of Nigeria; and to
(4) Examine how Nigeria‟s federal government has been responding to the bourgeoning
implications of the phenomenon on the country.
1.4 RESEARCH QUESTIONS
(1) How has globalization assisted the development of African economies
(2) In your opinion, what are the tangible fallouts of globalization in Nigeria
(3) How adequate has Nigeria been handling the monumental impacts of the tools of the
(4) Is Nigeria capable of averting its being further sucked into the vortex of globalization?
1.5 SIGNIFICANCE OF STUDY
This work will be relevant to the policy makers, government, researchers, and the society in
general. For policy makers and government, it will help in identifying the good policies that can
be adopted in order to ensure that Nigeria‟s economy is made better.
For the society at large, the relevance of this study will be projected with the selection of good
policies from the government and this will further improve the standard of living of Nigerians.
Therefore, this research will also benefit the society and government at large; the result of the
findings of this study will enhance the understanding of Nigeria‟s economic situation when
analyses of development efforts are being appreciated.
The research will also benefit other researches who may want to have more understanding or
carry out further research in the area of globalization.
1.6 SCOPE OF STUDY
Due to the nature of the research, the time frame that will be covered by the research is
2006 to 2014.
1.7 ORGANISATION OF THE STUDY
The research study is divided into five chapters. By way of introduction, the first chapter
presents a detailed background to the study. The second chapter focuses on theoretical jacket of
the study; and this consists of the review of literature and the theoretical framework of study;
while the third chapter concerns itself with the methodology adopted in the course of the
research. Chapter four presents the reader with a detailed analysis of information gathered in the
process and field of research; and the last chapter entails the summary of findings, conclusion
1.8 DEFINITION OF TERMS
Francis (2001) describes globalization as the great economic event of our era. It is also
because; it is now bringing unprecedented opportunities to billions of people throughout the
world. The rapid growth of information technology and the increased global integration of trade
and capital which have had profound consequence for the world economy are resulting into
significant shift in the world economy. This is because, increasingly, major decisions around the
world are given by global competitive pressure.
Based on this, I define globalization has a major outbreak from underdevelopment. This
has helped with technological knowhow therefore making the world a less complex society.
In a view expressed by Okobiah (1984), development involves a process of economic,
political and social change in a progress direction towards a better social well-being for the
member of the society.
Economic development in my perspective to this means a stage of change channeled
towards progress in the society has a whole.
MULTINATIONAL CORPORATIONS (MNCs)
Kaarbo (2011) defines Multinational Corporations as large companies doing business
globally. These organizations may have plants or factories in more than one state, pay taxes in
more than one state, pay taxes in more than one state, or have investments in more than one state.
McDonald‟s, Colgate-Palmolive, General Foods, and General Motors are MNCs.
I will define Multinational Corporations as any company that is registered and operates
in more than one country. This company has its headquarters in one country and operates from
there. The branches in other countries report to this headquarter, example of MNCs are; Apple,
Google, Microsoft, etc.
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