Nigeria and globalization: The consequences for political, social, economic and cultural development
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Date
2014-11
Authors
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Publisher
Kampala International University, College of Humanities and Social Sciences
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
Description
A thesis presented to the College of Higher Degrees and Research in partial fulfillment of the requirements for the award of Master of Arts in Development Studies of Kampala International University
Keywords
Political, social, economic and cultural development, Globalization, Nigeria