Having discussed the impacts of globalization in Nigeria, one might think that Nigeria is now among the technological advanced countries of the nation. Unfortunately it is not so because there are still some things that hinders or challenges the impact of globalization in Nigeria economy. Thus, these challenges include: poverty, lack of adequate infrastructural facilities, inadequate power supply, Misconception about globalization, lack of free competitive economy and not embarking on serious technological revolution. 

1.   Poverty:  poverty in many third world countries had hindered the free flow of globalization and inability to develop their technologies. For instance, in Nigeria poverty is in its largest scope, complex, or multi – dimensional that the populace could not update their technologies, so as to compete within and outside the country. This is as a result of law income earning. Most Nigerian can not afford computer sets and internet browsing with which they can be able to relate with people in the global market. As a result of this they were forced to do business locally not reaching their full potentials.16              

2.         Lack of Adequate Infrastructural Facilities
Nigeria lacked many adequate infrastructures that can encourage globalization process. There were but only few industries in Nigeria which are mainly directed and control by mostly foreigners. The non-existence of the infrastructural facilities made it difficult for free competition in the global market and some foreign industries that exist are being hunt down by increase of crimes and corruption in the nation. This however, dwindle the economy of Nigeria. Also though Nigeria has oil but lacks the facilities with which it can be refine. They were rather exported in its crude form and imported in a refined form. Thus, this does not help the economy of the nation because after being sold in a cheaper rate will be bought on high rate. 

3.         Inadequate Power Supply
Power is what a country needs for steady and progress production. With power industries can control their technologies, and facilities for easy production of goods and services. It also ensures the reduction in the cost of output and also the increase in the number of output over a period of time. This also, helps to enhance trade and meet the basic needs of the people. Globalization is hindered in Nigeria because of inadequate power supply for instance, if companies are expected to function effectively there is need to improve the power supply of the nation. This is important because their will be constant interaction, relations and communication with the global market.17

4.         Misconception about Globalization:
Globalization economically speaking entails the integration of world trade and financial market. It is a process of relating with other worlds in area of interest. However, In Nigeria many understood globalization as a modern means of exploitation that is neo-colonialism. This is because of its policies that favored the developed countries more than the developing countries, and the instruction to open up to free trade and competitive market in the global market. They decided to close their door against western influence whether capitalist or socialist concepts. The misunderstandings of globalization in many third world countries have made it difficult for these countries to grow or develop economically.

5.         Lack of Free Competitive Economy: 
Globalization is a process of integrating economy around the world especially in away of trade and financial flows across the globe. This means that every nation is expected to relate with each other on the area of trade and finance for the growth of its economy. However, many countries have isolated themselves from the global market, and have imposed some tariffs on trade that hinder free flow of trade in their nation. Some were intimidated by the level of industrial revolution that exists in other countries. As a result of that they could not compete with them and were forced to do business locally not reaching their potentials. Thus, lack of free competition in the global market hinders the concept of globalization because of the existing gap between the rich and the poor. For instance the wealthy countries can acquire and update their technologies but it’s not the same with the poor countries.18

6.         Not embarking on serious technological Revolution
            Technological revolution is important in the global market because it helps the countries involve to compete with each other. It also helped them to improve their local industries and economy. In the third world countries especially in Africa, it is noticed that poverty hinders them from embarking on serious technological revolution. The non existing industries in many countries are because of lack of technological revolution. Non existence of man power as a result of slavery, non existence of machineries for quick and speedy production of goods and services are the problems that the third world economy faces today. Thus, this affects the globalization concept from manifesting it self in totality.

            Finally, globalization has created so many impacts which have helped so many countries economy to develop. It has also not closed the gap between the rich and the poor countries which made it face many challenges in some countries of the world. This is as a result of unequal distribution of income. For instance, when the tariff policy was established in the global market, it is supposed to be in away that the wealthy nation will be subjected to high rate tax or compensate the developing countries. But rather, the terrify policy was placed in a way that the developed countries benefits more than the developing nations.19
            Also, the third world countries should stop nursing the fear of globalization being a modern exploitation method but should open up to globalization concepts because it’s ineviatable. Today history is gradually sweeping under their feet and new economy based knowledge has emerged, they better should attack the challenges of globalization as mentioned above.

1.         UNDP Human Development Report, 1999.
2.         Anyanwu Ogechi, issues in African diplomacy, (Tony    
       Ben publishers, Owerri, 2000), p. 149
3.    Ibid p. 147.
4.    Peter Zorkoczy, Information Technology, Affiliated   
       (East- West press Pvt Ltd. New Delhi 1989), p.2.
5.    Shamika Sirimanne, the Information technology: what
   about the developing countries? International     
   Development Information center (IDIC) (Canada April     
   1996), p.4.
6.    Ibid p. 8
7.    Ibid p. 10
8.   Collins English Dictionary, version 2.17 O. Vendor mobile  
      systems, July 2011.
9.         Http//www/ivy thesis, type pad. Com/term paper
10.       African Today 2000.
11        Limonen Paul, ‘internet as a tool for social development’ paper presentation at the arrival conference of the internet society Kuala Lumpur 24-27 Linrised,   p. 23
12.    Castell, mannel ‘information technology; Globalization     and social development Geneva, 22-24 June, 1998,
p. 12.
13.        Ibid. p. 15.
14.  Castells mannel , ‘information technology; Globalization
      and social development Geneva, 22-24 June, 1998, p.  
15.       Post express, august 30, 2001
16.  World Bank policy research Bulletin, 1992.
17.       Peter zorkoczy, information technology; what about the developing countries? International development information center ( IDIC) Canada April 1996, p. 43.
18.       Http//www.globalisation./ iv7.
19.       Anyanwu Ogechi, Issues in African Diplomacy, Tony Ben Publishers, Owerri, 2000, p. 146.
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