Nigeria and Globalization the Consequences for Political, Social, Economic and Cultural Development

ABSTRACT 

This thesis is about how globalization has affected Nigeria’s socio-economic, political and cultural structures. Put differently, how has Nigeria fared in a global world. This was analyzed using Neo-liberalism theory which represents both an ideological position and a policy perspective that endorses economic individualism based on market competition, encourage free trade and foreign investment, and oppose state intervention and state run welfare programs. The researcher suggests that neoliberalism not only neglects various important aspects of human development, but also often does not deliver its own promises. A world system theory is a social system, one that has boundaries, structures, member groups, rules of legitimating, and coherence. Its life is made up of the conflicting forces which hold it together by tension and tear it apart as each group seeks eternally to remould it to its advantage. This research was purely qualitative research taking care to study material which has gone through some measure of review and where findings have been confirmed and approved by independent authorities is important to establish conclusive and reliable findings. Therefore limiting research to peer reviewed journals, serious and accredited newspapers, and literature by established authorities in the area is therefore of the utmost importance to ensure reliability. The conclusion is that schemes like privatization and commercialization, a key ingredient of globalization, trade liberalization, activities of multi-national companies, Bretton woods prescription of non-subsidy economy, etc, are not helping the Nigerian nation. The answer is that Nigeria should not swallow the pill of globalization, hook, line and sinker but understand the dynamics that will help evolve measures that will reduce it devastating effects. It is equally important that Nigeria’s revolutionary and activist classes should be actively involved or engaged in developing alternative structures of power for organizing production, based on new values of humanity, and care for the environment.

TABLE OF CONTENT

Page

DECLARATION

APPROVAl H

ACKNOWli~DGEMENT

DEDICATION iv

ABSTRAC~l~ V

Cl IAPTER ONE: INTRODUCTION 1

.1 Background to the Study 1

1 .2 Statement of the Problem 5

1.3 Goals and Objectives ofthe study 6

l.3.lGencral Objective 6

1.3.2 Specific Objectives 6

1 .4 Research Questions 6

1.5 Scope of the Study 7

1.6 Significance ofthe Study 7

CHAPTER TWO: LITERATURE REVIEW 8

2.0 Introduction 8

2.1 Theoretical Review $

2.1.1 Neoliheral Stale in Developing Nations 10

2.1.2 World System 13

2.2 Neo-liberalism asNeocolonialism / 16

2.3 Historical Perspective 17

2.4 Globalization and Poverty 20

2.5 Globalization and National Development in Nigeria 23

2.6 Globalization as a Constraint to Political Development 26

2.7 Globalization on Culture 27

2.8 The Economic Policy Thrust of Obasanjo~s Administration 29

CHAPTER THREE: METHODOLOGY .31

3.0 Introduction 31

3.1 Method 31

3.2 Choice of Theories 32

3.3 Data Source 33

3.4 Data Analysis 34

3.5 Reliability and Validity of Source 35

3.6 Limitation 36

CHAPTER FOUR: FINDINGS AND ANALYSIS 37

4.0 Introduction 37

4.1 Implications of Globalization and the Nigeria Economy: Trade Liberalization, Deregulation, Privatization and the Economic Life of Nigerians 37

4.2 Globalization and the Nigeria Society 45

4.3 Managing the Challenges in Nigeria 49

4.4 Yar’Adua Administration Economic Policy 53

4.5 Summing up 60

CHAPTER FIVE: CONCLUSION AND RECOMMENDATION 62

5.0 Introduction 62

5.1 Conclusion 62

5.1 .1 Economic consequences 63

5.1.2 Socio- cultural consequences 64

5.1.3 Political Costs 65

5.1.4 Science and Technological consequences 66

5.2 Final remarks and recommendations 68

References 72