ABSTRACT
This project is designed basically to
examine the “Effect of Multinational Corporations on the Nigerian Economy”. The
major objective of this study is to determine the extent to which the
activities of these economic agents have made a positive or a negative impact
on the economic growth and development of Nigeria. The researcher recommends
that the Nigeria
Government should pay more attention to developing its human resources, so that
they can be more technologically capable to fit these multinationals. Technological
backwardness which is till date attributable to the MNCS has compelled the Nigeria
government to look for a way out of this unfortunate circumstance, through a
system referred to as the import substitution industrial strategy. This serves
as an eye open to the Nigeria
economy.
TABLE OF
CONTENTS
Title
page
Certification --- --- --- --- --- ---- --- --- --- i
Dedication
--- --- --- --- --- ---- --- --- --- ii
Acknowledgement
--- --- --- --- --- ---- --- iii
Table
of contents --- --- --- --- --- ---- --- --- iv
Abstract --- --- --- --- --- ---- --- --- --- vii
CHAPTER ONE: INTRODUCTION
1.1
Background to
the study --- --- --- --- --- --- 1
1.2
Statement of
the problem --- --- --- --- --- --- 3
1.3
Research
Questions --- --- --- --- --- --- 4
1.4
Objective of
the study--- --- --- --- ---- --- --- 4
1.5
Statement
of Hypotheses --- --- --- --- ---- --- 5
1.6
Scope of the
Study--- --- --- --- ---- --- --- 5
1.7
Significances
of the Study--- --- --- --- ---- --- 5
1.8
Limitations
of the Study--- --- --- --- ---- --- 5
1.9
Operational
Definition of Terms --- --- --- --- ---- 6
CHAPTER TWO: LITERATURE REVIEW
2.1
Multinational Corporations - --- --- --- --- -- 8
2.2
The Impact of Multinational
Corporation on the Nigeria
Economy --- --- --- --- --- --- --- --- 10
CHAPTER THREE: RESEARCH METHOD
3.1 Research
Design --- --- --- --- ---- --- --- 19
3.2 Population
of the Study --- --- --- --- ---- --- 20
3.3 Sample/Sampling
Techniques --- --- --- --- --- 20
3.4 Instrumentation
--- --- --- --- --- --- --- 22
3.5 Method
Data Collection --- --- --- --- --- 22
3.6 Method
of Data Analysis --- --- --- --- --- --- 22
CHAPTER
FOUR: DATA PRESENTATION ANALYSIS AND
INTERPRETATION
4.1 Data
Presentation --- --- --- --- --- --- --- 24
4.2
Data Analysis --- --- --- --- --- --- --- --- 24
4.3 Test of Hypotheses --- --- --- --- --- --- --- 30
4.4 Discussion
of Findings --- --- --- --- --- --- 35
CHAPTER FIVE:
SUMMARY CONCLUSION AND RECOMMENDATIONS
5.1 Summary --- --- --- --- --- --- --- --- 36
5.2 Conclusion --- --- --- --- --- --- --- --- 36
5.3 Recommendations --- --- --- --- --- --- --- 37
5.4 Suggested
Area for Further Studies --- --- --- --- 39
References
Appendix
ABSTRACT
This project is designed basically to
examine the “Effect of Multinational Corporations on the Nigerian Economy”. The
major objective of this study is to determine the extent to which the activities
of these economic agents have made a positive or a negative impact on the
economic growth and development of Nigeria. The researcher recommends
that the Nigeria
Government should pay more attention to developing its human resources, so that
they can be more technologically capable to fit these multinationals. Technological
backwardness which is till date attributable to the MNCS has compelled the Nigeria
government to look for a way out of this unfortunate circumstance, through a
system referred to as the import substitution industrial strategy. This serves
as an eye open to the Nigeria
economy.
CHAPTER
ONE
INTRODUCTION
1.1
Background to the Study
A multinational company is a company that
has the whole world as its market from which it purchases raw materials; source
for funds, manufactures its products and which it further projects for
sales. Some people associated
multinational companies with non – colonialism, the Europeans America Nations
described multinationals as the engine of growth in the underdeveloped
countries.
Different schools of thought gave their
approach to this issue by suggesting an evolutionary process of international
to multinational, transitional and super national organization.
A multinational company has designs of its
production facilities around the world. Onimode (1985) in his example using
Ford said it “was jointly designed by European and the U.S. teams and
is sold with only minor variations in dozens to foreign markets”.
Ford makes and sell other cars in Europe
that are never seen in the United States, Ford cars are designed, produced and
sold or individual markets wherever they are and without regard for national
boundaries. Multinational companies though spread its activities worldwide
produces specifications to suit individual nations. Multinational companies are
otherwise called multinational corporations (NNC’S) or multinational Business.
The multinationals came into focus after
the World War II and gained attention by mid 1950s and became highly
conspicuous by the end of 1960s (Vemon 1971). The tremendous growth
and spread of global enterprises during the twentieth century infringed and
reduced national boundaries fading ink to foreign presentation. The spread of
multinational corporations in addition to the huge financial wealth and
economic power has created fear and confusion in international politics and
analysis.
The fear is in two areas firstly is MNC an
independent actor in world policies or as agent of parent country foreign
policy. Secondary, do MNC’S autonomous actors posses political and economic
power equal to or greater than the majority of foreign states?
1.2
Statement of the Problem
The Nigeria nation existed with all the
natural resources she was endowed with before coming in touch with the Western
World. The contact with the white men resulted into a trade which marked a doom
for the Africa nation at large due to an
imbalance of the trading pattern.
The aim of this study is to look at the
impacts of these multinational corporations on the Nigeria
economy which falls into the positive impacts and also the negative impacts and
how this can be curtailed to create a more enabling economic condition for the Nigeria
society.
The problem is in the area of economic
exploitation which started as a result of the contractual agreement signed by
African Nationalists who schooled abroad on demand for self rule.
The actual implication of the contract
signed was that the European were extending their rules over Africa
but this time using Africans who in the word of Franz Fanon (2004) were
referred to as ‘Black Skin, White Masks’.
1.3
Research Questions
1
Which are the multinationals in Nigeria?
2
Do their activities have positive impact
on the Nigeria Economy?
3
Is there any government action to check
this?
1.4
Objectives of the Study
The
specific objectives of the study are:
1
To investigate the role of multinationals
on Nigeria
economy.
2
To ascertain ways Nigeria could
maximize the benefits from the multinational corporations and minimize their
negative and anti-development objectives.
3
To find out the effects of inadequate
performance of the multinationals on Nigeria economy.
4
To examine the positive impacts of
multinationals on the Nigeria
economy and make recommendations on findings.
1.5
Statement of the Hypotheses
(1)
The presence of multinational corporations
will help enhance productivity in the Nigeria economy.
(2)
The
benefits and minimal of negative and anti-development objectives will not help
to develop the Nigeria
economy.
(3)
Knowing the positive impacts will help in the
development of Nigeria
economy.
1.6
Scope of the Study
The research work covers the impact of the
activities of the multinationals on the Nigeria economy with a view of the
positive impact, negative impacts and also controls of these multinationals.
1.7
Significance of the Study
The reason for this research work is to
look into the challenges faced by the Nigeria economy as a result of the
presence of these multinationals on our economy.
1.8
Limitation of the Study
Due to the following constraints, there
were limitations to the researcher could go with this research work. These
constraints include:
Inadequate materials, journals, periodicals and other
documented materials relating to this research topic.
Financial problem – the high cost of materials, cost
of mobility to and fro location of research (field) and also high cost of
obtaining research materials.
Time – time factors was also another constraints as it
was really hectic combining this research work with lectures, assignments,
tutorials seminars and other extracurricular activities like church meetings.
Poor network – where it would have been helpful to
source for data online via the internet, our network providers were in no way
helpful.
1.9
Operational Definition of Terms
Multinational
Company: A multinational company is one that has the worldwide
market as a place where it buts raw materials, borrow money, manufacture its
product and to which it sells its product.
Foreign
Direct Investment: It is defined as acquisition of assists
which generate income by institution or individuals in one country in another
foreign country.
Less
Developed Countries (LDC): These are the third world nations of
the world.
Neo-Colonialism:
The
control or domination by a powerful country over weaker ones by the use of
economic pressure, political supervision and cultural difference.
Labour:
Is
the productive service embodied in human physical effort, skills, intellectual
power etc. it is a production process.
Economic
Development: This is a state of being employed or
having work to do; work in this regard refers to all human activity aimed at
producing or contributing to the production of commodities that generate income
for the person who is employed.
Technology: This refers to skills, methods or technologies used
in improving quality of goods and the production function technique that ensure
reflection n the cost of production and improvement in the quality of goods and
series based on certain combination of input.
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