In early 1820s,
started the movement of globalisation. Globalisation is the way by which people
from various trades & services, from various parts of the world interact
with one and another to interact, sell, and buy the products and services that
are not available or that is available at a reasonable price elsewhere in the
Globalisation got its
first, much needed, big boost in the early 19th Century. This is
around the same time much of the world was being colonized by the British
Empire , as well as when Henry Ford introduced his first T-model car and the
standardized production line. At this
point in time much of the world was still developing and had low cost of labour
The British Empire
& much of its European allies were the ones that introduced the concept of
globalisation to the part of the world that was still developing and trying to
find its way in the world.
With this came the
exploitation of the labour force & the slave trade which was day-to-day
happening in the African, Asian, Indian sub-continent & Sub-Saharan
continents, to which the locals could not raise their voice against. This is
the dark and ugly side of globalisation that no one wants to talk about, as the
modern world globalisation & trade is built much on the exploitation of an
It has also helped
these nations to grow economically, financially & intellectually over
decades to be among the global powers in the world. But, not all nations were
fortunate; some of these nations are still reeling from the yester-century
effects. One such nation is Nigeria. Not just the country but the entire
African continent is still facing the effects of slave trade, lack of education
& lack of employment opportunities.
These countries are
rich in natural resources, which the government, due its lack of funds, and
foreign entities, lack of security, are uninterested to invest in the
development of economy, health, education and infrastructure of the country.
The last two decades
in the human history, has been about the expansion of output around and there had
been numerous countries that have benefited & continue to benefit from this
increased cross-border trades and investment opportunities.
This lack of
investment in development of the country is due to the anti-social elements
that are present in the society which see and oppose these developments as a means
of more exploitation by the foreign elements.
Even then, there were
few Non-Governmental Organisations (NGOs) that were interested in providing
basic health care, education to people of all ages as well as training people
in vocational jobs that could help the people of these countries to earn a
living out of it or help others with the skills that they have acquired.
Non-Governmental Organisations not just provided these basic necessities and skill training, but they also
helped show the world, providing them skills could lead them to a better future
than what they would have had, had they not been provided with these
OF GLOBALISATION ON THE NIGERIAIAN ECONOMY
process offers the developing countries like Nigeria with opportunities to
create the wealth; it needs, through gain growth exports and expands its
international trade in goods and services, and also gain access to latest
developments and innovations in all fields that is required for the growth of a
In short, the process
of globalisation provides various opportunities to developing countries such as
Nigeria to be a part of the global trade.
It has been opined by
Salimono (1999) that, globalisation has reduced the barriers that had existed
in international trade; this has led to the gain in growth through exports. For
instance, the Nigerian economy has been mono-cultural since independence &
it has depended on the western countries so much for its existence &
survival (Philips, 2000).
It was observed by
Bayo (2000), in 1960s, the country depended heavily on its agriculture for its
revenue, which was in turn used to provide lifesaving and life sustaining goods
to its citizens. Nigeria and its neighbouring developing countries slowly
started exporting cash crops such as Cocoa, Coffee, Groundnut, etc. as raw
materials to developed countries to be used in manufacturing products to be
sold in developed countries. The discovery of crude oil, i.e., petroleum, in Nigeria
in the early 1970s, marked the turning point for the country’s economy, which
eventually pushed the agriculture to its background.
By the observations made
by Onwioduokit and Ashinze (1996), when Nigeria witnessed the oil boom, it
brought along with it the major shift in focus from the agriculture & its
produce to the oil reserves & its boom. Presently, Nigeria receives a bulk
of its revenues from these oil exports. Due to the uncertain and frequent
fluctuations in the crude oil prices, the Nigerian economy faces instability,
which has become a permanent characteristic of its economy.
It was also stated by
Oputa (1996) and Salimono (1999), that globalisation involves liberalisation of
trade, thus, making it necessary that there should be a free and unrestricted
flow of goods and services, finance & capital and infrastructural investment
across international borders.
The benefit of
globalisation to Nigeria is that it allows the country to carryout import and
export trade, inflow of capital and investments from other developed countries &
individual entities without any restrictions on it.
To further emphasis
his point, Salimono stated that from the experiences of the last forty years, the
countries like China, Chile, Ivory Coast & Botswana have managed to grow at
rapid pace of 7% or more per year in growth, have heavily relied on export growths,
with the share of export growing at a faster pace than the country’s own Gross
Domestic Product (GDP) for the year.
encourages rapid growth in output that will in turn increase the national
income as a consequence; it will lead to higher standard of living in
developing economies like Nigeria. Salimono
(1999) also opined that globalisation offers these developing economies with
the opportunity to eliminate poverty. Nevertheless, as is not the case in all
developing countries, in some developing countries, even with globalisation it
is still difficult to eradicate poverty. Poverty can be reduced but cannot be eradicated
entirely from an economy, no matter how much it has developed or advanced it
Awake (2000), to
emphasis his point that the drastic increase in prosperity that globalisation
has brought about in South Asia may not be unconnected, noted that a family’s
income in has increased three times than it had been 50 years ago. However, the
real situation in Nigeria is quite the opposite, where the real income has been
decreasing instead of increasing. This may be due to the fact that, the crude
oil found and extracted in Nigeria is exported to developed economies only to
the imported back to the country in the refined form as petroleum to be sold to
the citizens of Nigeria at a higher price.
Therefore, the people
do not really gain from the discovery of crude oil and the subsequent path that
led to globalisation; instead, they lose even more than before. As it is a lost
opportunity for employment & essentially a better standard of living as
these refineries are not within the country which could provide employment to
the local population.
is a process of intensified and broadened interdependence among nations.
According to Peter (2002), globalization creates global market place, which,
with the development in communication technology, can be accessed by virtually
any one from any location. Thus, it opens up a world of opportunities for business and also link them to market, which was hitherto unknown to them. In this
process, there is decrease the possibility of wars among nations. Awake (2002)
noted that interaction among people has the potential for improving global solidarity.
It maintained that some human right organizations have been able to tap the
resources of the people to promote their effectiveness. For instance, in 1997international treaty banning
land mines was achieved through mobilization of the people of the world through Internet.
Despite these positive effects many people are still of the opinion that
globalization poses tension and dilemma to countries integrated to the economy.
The greatest concern about globalization expressed by Awake (2002) is the
ever-increasing gap between the haves and the have-nots. It is observed that while the
global wealth has increased, it has become concentrated in the hands of the few
privileged individuals and few countries.
The location of these
countries isolates them entirely from the rest of the economic world with it
being riddled with various communication as well as transportation barriers.
These barriers were
considered mere barriers by the charitable as well as Non-Governmental
Organisations. Due their effort & dedication, much of the under-developed
& forgotten parts of the world, started to get the much-needed health care,
this was just the beginning of the path to development that has been snatched
away from the most of sub-Saharan African countries.
though rich in minerals and natural resources, they were not well-educated or
were they equipped to gain from these
resources that is available in abundance to them. These countries also do not
have proper medical services, which has led to higher mortality rate among
infants & women, leaving the children mal-nourished and the spread of deadly
contagious diseases like smallpox, etc. The most recent of which was Ebola,
which became a worldwide health scare, since there was not proper sanitation or
pre-cautions that were taken to keep it under control or were the medical
staffs given proper training nor the people were educated about how to handle
these illnesses and the proper methods of disposal of wastes.
This led to the
worldwide spread of Ebola, which took more than a year to bring it under
control and more than 6 months to find a vaccine as well as medicines for
curing it to be made available to the common public, and took nearly 9 months
after the outbreak to get these medicines to these affected countries in the
sub-Saharan African countries.
This delay in getting
the trained medical workers, vaccinating these workers & providing the cure
for those affected led to massive loss of life in these under-developed
countries. This could have been prevented or at the least reduced to a minimum,
had there been intervention by the respective governments and the world as a
community. Had there been a more focused & adequate investment in the
health-care and providing better infrastructure, this health epidemic would
have not happened.
Education being an
important part in the path leading to the development of any country. This has
been provided by various charities and Non-Governmental Organisations from
around the world to the children as well as adults of varying age groups, so
that they have the basic knowledge to read and write.
This has motivated a
tremendous amount of youngsters to seek careers various fields of study to seek
better future for themselves as well as their community from which they came
from so that they can help to better their community through their earnings
elsewhere around the world.
Not alone has this
helped the younger generation but also the older generation, who have learned
various vocational skills that has helped them to carryout various jobs such as
Education has also
proved to be an important and significant distractor for young kids from going
into the wrong path. Prior to introduction of education to the kids, there has
been a high rate of kids and adolescent who turned to terrorism, piracy, etc.
Since they started to go to schools & getting education, more and more of
these kids are motivated to turn away from the wrong path of destruction, to
follow a career where they can get away from their criminal past and criminal
contacts, so that they can lead a better life for themselves as well as their
The advantages of
globalisation to a developing country as well as a developing economy like Nigeria
is in the country’s capacity for wealth-creation made through the growth of
exports and the consequent benefits the country gains through trading of goods
and services made in the global market.
The effect of
globalisation on the economy as well as the growth of the country has been a disastrous,
overwhelming and killing to the Nigeria as a whole as well as the entire
This has led to the
instability in Nigeria at the macro-economic level & economic development of
the country may just remain a dream that the country would not be able to
health-care & infrastructure can in long –run can have a positive effect on
the lives of the people as well as the country as a whole. This has led to the
betterment of the entire population and this in turn can help in the
development of the country’s economy as whole where with a well-educated,
trained population can help to secure investments from various countries as
well as multi-national companies in the country’s resources and the people.
investments into a country’s infrastructure, education and in its economy, put
together can help a country grow in the world stage of globalisation and
compete with other developing countries in trying to secure even more
investments and recognition from the rest of the world.
With the focus on
education, the countries have been able to turn away their population from being
recognised as being militants and pirates, have been able to turn them into
employable youths who have better future working in various industries,
factories & offices, that are invested and opened their plants &
offices in the country. Youths who can provide a better future for their family
and for their future generation and the community as a whole.
With the development
in healthcare, there is a slow but steady decrease in infant mortality rates,
with better health centres and hospitals to guide the new parents in caring for
their new-borns, with what vaccinations is to be taken at which months and what
medicines and food has to be administered to the baby when they are ill.
It has also reduced
the mal-nourishment among the younger kids, have also been able to healthier
and complication free normal life.
it has to be noted that the progress from being a under-developed to developing
to developed country is a slow and painstaking journey as well as a process,
which can be done only if the community and people of entire stand as together
and lead it through, no matter the hard-ships or obstacles that they might