This paper investigates the impact of globalization on Nigeria’s economic development. The advocates of globalization are of the opinion that it can bring about rapid development through industrialization. This paper utilizes secondary data and presenting them in tables relied on the arguments of dependency theory to critically analyze the impact of globalization on Nigeria’s economic performance. This paper discovers that, the Nigerian economy has not benefited in the current globalization process despite her enormous natural and human resources. It also discovers that, the integration of the Nigerian economy into the global capitalist economy had foisted on her the policies of the Breton Woods institution with its conditionalities as manifest in the Structural Adjustment programme (SAP), which has worsen the economic conditions of Nigeria by creating high level of unemployment, poverty, corruption, trade deficit, high debt profile amongst other negativities. To liberate Nigeria from this economic problematic, this paper recommends among other strategies the abolition of neo-liberal economic policies that do not consider the individual development and should adopt a strategy of development within the framework of national self-reliance on internal resources and only seeking alliance with the global economy on the bases of comparative advantage.
: Globalization, Nigeria, development and Economy
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