ABSTRACT
The interaction between poverty and socio-economic development
particularly in the developing countries of the world has posed challenging
problems. This problem has obviously presented this countries in a bad taste in
the international relations. It is under this premise that this study was set
out to ascertain the problems which militates against the harmonious
socio-economic cum political relationship between the Globalization policies of
the West and the Nigerian foreign policy under Goodluck Jonathan in the context
of international relations. This is because the inequality existing between the
developed and third world countries continues to deepen even in the presence of
deteriorating economic while the dependency relationship overstretches the
widening gap between the economic bloc through the internationalization of the
capitalist system. The interaction and dependency relationships' have created
challenges to find the root cause of poverty and it’s eradication to the extent
that questions are now asked whether poverty is indigenous to Africa or it came
into existence as a result of colonization; globalization and poverty taking
third world countries as point of reference. It examines the incidence of
poverty in Africa in relation to the forces of globalization. The paper
critically explores how Nigerian participation in globalization processes can
institute plausible strategies to stimulate foundation for economic
regeneration and national development. It is the position of this paper that
the strategies recommended would stem the aid of poverty incidence in Nigeria
particularly and stimulate national socio-economic development. Finally, the
paper noted that collective action is needed to safeguard global ethic that
will regulate globalization. Nigerian government should see globalization as a
challenge and should find means to counter the deleterious effects of
globalization.
TABLE OF CONTENTS
Content: Pages
Title Page … … … … i
Approval Page … … … … ii
Dedication … … … …
iii
Acknowledgement … … … … iv
Abstract … … … … v
Table of Contents … … … … vi
CHAPTER ONE: INTRODUCTION
1.1 Background of Study … … … 1
1.2 Statement of the Problem … … … 4
1.3 Objectives of the Study 5
1.4 Research Questions … … … 6
1.5 Significance of Study … … …. 6
1.6 Methodology … … … 7
1.7 Scope of Study … …. …. 8
1.8 Limitations of Study … … … 8
1.9 Definition of Terms … … … 9
CHAPTER TWO: THE REVIEW OF
LITERATURE
2.0 Introduction …. …. …. …. 10
2.1 Globalization
and Modernization ….. …… 10
2.2 Globalization
14
2.3 The Forces of Globalization and the
Society …
21
CHAPTER THREE: HISTORICAL OVERVIEW
3.1 Historical Evolution Of Nigeria Foreign
Relations: An Appraisal 26
3. 2 Nigerian Foreign Policy and
its Objective … 29
3.3 Globalization and Nigeria Foreign Policy … … 32
3.4 Impact of Globalization on
Nigeria Economic Growth … 37
CHAPTER FOUR:
GENERAL ANALYSIS
4.0 Introduction
49
4.1 Nigerian
Foreign Policies under Goodluck Jonathan
… 49
4.2 The Implicational effects of Globalization
on Nigerian Economy 53
CHAPTER FIVE: CONCLUSION AND RECOMMENDATION
5.0 Introduction 56
5.1 Summary of Findings ---
…. …. 56
5.2 Conclusion … … … … 57
5.3 Recommendations … … … … 59
BIBLIOGRAPHY … … … … 61
CHAPTER ONE
INTRODUCTION
1.0 Background to the Study
Globalization has become a commonly used word
world-wide. It is no longer a new concept or phenomenon in the academic and
business world as social scientists, journalists, business analysts, management
theorists writers and commentators generally have at various times used and
will continue to use the word in particular contexts for declared and
undeclared purposes, with more or less effectiveness in their attempt to
explain or interpret issues in this changing and complex world (Ibrahim, 2010).
The concept of Globalization gained prominence
only recently, even though it has always been there over the years, but the
attention it is commanding in world affairs today is unprecedented.
Globalization has taking place for centuries and, with time, has accelerated,
from the colonization of the inhabited parts of the world to the appearance of
nations, from conquests to independent countries, from sailboats and caravans
to steamboats, truck fleet and cargo planes, from trade in a few commodities to
global production and distribution networks and to the present explosion of
international flows services, capital, and information (Friedman, 2005).
Over
the past two decades, world output has been expanding and many countries are
benefiting from increased cross-border trade and investments. Many others
suffer because economic regimes are inefficiently managed, and this weakness
reduces their capacity to successfully compete globally (Schneider, 2002).
International mobility of capital, resulting from advances in communications
technology and liberalization of financial markets has intensified as the world
economy witnesses the unleashing of market forces. Deregulation of domestic
markets, their opening to competition, privatization and the retreat of the
state from economic management are also features of the current global order.
However, this same process encourages rising
inequality among nations. The liberalization of the world economy, for
instance, has proceeded in such a way that the growth prospects of developing
countries are being undermined. Thus, while restrictions have been lifted on
the freedom of capital and skilled labour to move to areas of high returns, the
restrictions on the mobility of unskilled labour remain. Moreover, as
developing countries have increased their capacity to produce and export
manufactures, the developed countries have become active in promoting tariff
peaks and escalations (UNCTAD, 2001).
Globalization constitutes a mega trend in
Nigerian political economy and has assumed a new phase in the country’s
international relations. Given the emergent socio-political and economic
transformation as well as the technological advancement in communication,
information, transportation etc, the process seems to be irreversible. Various institutional
actors that is, Ministry of Foreign Affairs, Nigerian Institute of
International Affairs, etc, have indeed consistently intensified efforts
towards engaging in socio cultural relations with other global actors to
develop her domestic scene (Thornhill, 2007).
It
has become an axiom that the entire world has been reduced into a global
village, so much that peoples of different countries are no more restricted or
limited by their national boundaries to reach out to other people in different
part of the world to do business transactions with one another and other
related matters across national boundaries without hindrances of space, time
and geographical locations. Couple with the advancement in information and
communication technology that has also placed information at the fingertips of
as many that are inclined and are familiar the use of the computers and the
internet service. This somehow have had ripples effect on Nigeria as the most
populous black nation in the world with very vast, huge and large market
potentials for the world to savor (Ijeoma, 2007).
The foreign policy of a nation is a
reflection of its domestic demands, needs and aspirations. Much as there is a
relationship between a state domestic policy and those foreign to it, the
outcomes in the course of their implementation could turn out to be
complementary or simply contradictory. In the case of the Federal Republic of
Nigeria in this fourth republic heralding the transition from military
dictatorship to civilian rule in 1999, paved the way for democratic
dispensation with the leadership endeavouring to steer the nation’s foreign
policy in accordance with democratic ethos. This became expedient in order to
reintegrate the country into the international community from a pariah state and
to embark on economic growth, social infrastructure and development, also the
challenge of combating sectional militia and insurgent groups among others are
key issues of domestic policies which must be balanced by equally robust
external policies.
Thus, Nigeria today belongs to the ‘global
village’, this has shaped the development of her foreign policy; characterized
by interconnectedness of political,
economic, social and technological forces that permeate contemporary global
system. Nigeria has made giant strides toward global economic integration
through privatization. It is also liberalizing capital markets with increasing
scope of mergers and acquisitions especially in the financial sector. The
country has continued to relax capital controls which posed a significant
obstacle to foreign direct investment (FDI). More importantly, Nigeria is an
active participant in the New Economic Partnership for African Development
(NEPAD) – a development plan which seeks to liberate Africa from
underdevelopment, poverty, warm and corruption (Soddiq, 2003; Soludo, 2007).
These are indicators that Nigeria fully supports and encourages globalization.
1.1 Statement of the Problem
In this new millennium problem of achieving a
sustainable development in the new global socio-economic and political
dispensation, happens to be one of the major problems facing Nigeria. The
process of integrating the peripheral economies into the global capitalist
system in order to enhance or achieve an accelerated development of these economies
has met with a lot of obstacles. As a result, many states in Africa, including
Nigeria, are characterized with economic quagmire or disaster and several
others have in fact collapsed.
The
power of most African states sovereign governments have collapsed in the face
of international marketization, neo-liberal deregulation and global economic
integration. All social democratic governments as well as authoritarian regimes
are either under a terminal threat or are in the process of fundamental
transformation as a result of globalization. Nigeria, like many other African
countries, have been forced to believe in the idea that the world has now
profoundly changed with the advent of globalization and there is little that
independent Africa national governments can do about determining their pace of
development because of external intrusion in all their system. Hence, we could
see that globalization is a reality in the world. It was in the light of the
above stated problem that this study therefore seeks to examine globalization
and its effects on Nigeria foreign policy: Good Luck Jonathan regime in
perspective.
1.2 Objectives of the Study
The
broad objective of this study is to examine the globalization and its effects
on Nigeria foreign policy: Good Luck Jonathan regime in perspective. Specific
objectives of this study include the following:
(i)
To determine the effects of
globalization on Nigeria Foreign Policy
(ii)
To examine the impact of globalization
on economic growth of Nigeria
(iii)
To determine the impact of globalization
on macroeconomic variables in the country such as inflation and unemployment in
Nigeria
(iv)
To identify positive and negative
influence of globalization in Nigeria
(v)
To suggest the possible strategies for
enhancing the development of Nigeria economy in the era of globalization
1.3 Research Questions
The following questions
will be answered in the course of the study
(i)
What are the effects of globalization on
Nigeria
Foreign Policy
(ii)
Has
globalization promote economic growth in Nigeria?
(iii)
What are the impact of globalization on
macroeconomic variables in the country such as inflation and unemployment
(iv)
What are the positive and negative
influences of globalization in Nigeria?
1.4 Scope of the Study
This work attempts to critically examine or x-ray
the globalization and its effects on Nigeria foreign policy: Good Luck Jonathan
regime in perspective. The time frame, which this study covers, is from the
year 2000 – 2013. This research is greatly limited by time. This is because, researcher had to do course
work along with the research at the same time coupled with the fact that the
semester is very short. A reasonable
amount of time was spent in the collection of materials especially for the
review of related literature.
1.5 Significance
of the Study
This
study is of immense importance because it is being carried out at an opportune
time. In other words, it comes when Nigeria is at the cross road of her
development.
The
totality of this study is to delve into understanding the competitive
expressions of the global economic integration, exposing its impacts on the
development of African countries with Nigeria as the focal point. As a result
of the critical evaluation and analyses undertaken, the outcome would help in
sensitizing decision or policy makers in Nigeria.
This
study of “globalization and its impact on Nigeria economy” is of immense
academic importance in that it would provide a scholarly tool that will widen
the frontiers of knowledge and give direction to students who want to
specialize in international relations or international economic relations.
Also,
it will aid them in further research into this new development in world
history. At the theoretical level, there is need to explore the dynamics of
globalization as it affects the socio-economic and political development of
Nigerians.
This
study will help scholars in identifying the indices and processes of
globalization as it affects Nigerian development.
At
the practical level, the study will keep Nigerians and other African countries
abreast with the challenges ahead in an era of globalization. This will help
mobilize their intellectuals to rise to the challenge of analyzing and
interrogating this new development in world history.
In addition, policy makers and other
stakeholders in the Nigerian economy will find and draw useful lessons in the
various issues of globalisation discussed. This study even though based on
Nigeria, could be extended to analyse economic development in other developing
countries.
1.6 Limitations
of the Study
This research work has its limitations, which
posed to making; thorough and exhaustive conclusions. These are:
(i)
Time:
The time available for the work was not enough
for the researcher to travel to many places to gather data.
(ii)
Finance:
It is a known fact that; in any undertaking,
availability of funds is very important adequate funds constrained the
researcher from gathering enough data for the research.
(iii)
There is
also lack of up-dated statistics; this had constrained the researcher to make
comprehensive research work.
1.7 Definitions
of Terms
Development:
This is the level of physical environment, social, political and economic
growth or civilization of the people.
Globalization:
is the increased movement of goods, services, capital, people and information
across national borders is rapidly creating a single global economy.
Government:
This is the agency of the ruling class which is charged with the responsibility
of exercising the state powers on behalf of the people.
Economic
Growth: This can be defined as the process whereby the
real per capital income of a country increased over a long period of time,
economic growth is measured by the increased.
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