Globalization and economic development in nigeria: a philosophical analysis

Thesis Overview

<p> </p><p>Globalization is the process of making the world economically interconnected in the modern form. Globalization and economic is a twin brother of development . Globalization is a process by which free movement of ideas,capital flow, information and technology are moved across borders and national boundaries which result in the integration of the world economies. Just as Heraditussays that change is the only permanent thing in the world, globalization is a phenomenon that was brought by change. And man ever since creation has been craving for change.</p><p>Nigeria after the formal independence in 1960, the political elites saw that the pursuit of power as the dominant theme for politics, this had left thenation in bad condition. Consequently the ethnics of business has penetrated politics and politics was seen as equivalent warfare. This had added to the fact that Nigeria obtained political independence but not economic independence compounded problems for the young nation. Like in the colonial era, the economy still reacted to the vagaries in the international market. Nigeria incorporate into the international market as capitalist market as a junior partner which started with the supply of continued unaltered with supply of commodities like palm oil,cocoa, groundnut, cotton etc. even crude oil, then she later become the greatest foreign exchange in the nation Nigeria in Africa. But the context of dependence between Nigeria and it formal colonial master did not change with independence, only the context did. The structure of dependence on western nations and exploitation of peasant producers as well as the expatriate domination of investment opportunities. The indigenous entrepreneur became an intermediary between foreign interest and indigenous polity and economy and they turn to state as a source of capital and contract. The pursuit of power became easy and access to wealth and fame. Politics became a “dirty business”, its practioniers scheming and crafting. Access to resource including opportunity for profit making, thus require favour of those who control private and public institutions which allocate them.</p><p>Polities thus affords the “opportunity” to acquire wealth and prestige to be able to distribute benefits in the form of job, contracts, scholarship and gift of money and so on to the allies. The difference among region and ethnic group in the power equation, discrimination in favourof particular groups, where access to office and it spoils is the object of politics. It is on thesecompounded problem , that research on globalization and economic development in Nigeria is looking forward to suggest the best solution for the national development. And never to depend on dogmatically in the international policies which has utility in the short basis and consequential effect in a long run.</p> <br><p></p>