Globalization and the Challenge for Nigeria’s Development

摘要

The main feature of the current economic situations in the contemporary world system is globalisation which is lead by a new age of information technology that is contrary to the History of human kind. Countries have continually intensified various efforts towards engaging in business across country’s borders and distributing networks and production on a global scale. Therefore, with these trends of political, economic, social and technological forces the world is becoming a ‘global village’. Based on the above the paper recognizes the existence of a global environment that is deeply embedded in interdependency and the necessity for Nigeria to minimize the negative effects of globalisation while exploring its benefits for national development and economic growth. In conclusion it is recommended that Nigeria should fully streamline and change its political economy in tidy to straight on tackle modern global challenges.