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.
END NOTES
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.
10
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./caap.org./content
iv7.
19. Anyanwu
Ogechi, Issues in African Diplomacy, Tony Ben Publishers, Owerri, 2000, p. 146.