Understanding the global connections: A panacea to Nigeria socio-economic development

Abstract

Globalization has gained overwhelming popularity and it is steadily changing the world configuration and its operations. It is taking many dimensions and manifesting in indifferent fronts of human endeavours such as economic, political, cultural, technological and information communication network. Globalization came into preeminence with the end of the 2nd world war, during which international division of labour was imposed on the third world countries (Nigeria). Asia and Latin America. They were assigned the supply of raw materials, provision of markets and investment opportunities through monopoly implementation process by the developed nations. It has forwarded the growth of rich multinational companies that have practically taken over the world market for certain products. This paper examined the possibility of Nigeria coping with the present world trend when viewed against the backdrop of her slow pace in socio-economic, political and technological development. It asserted her national potentialities vis-a-vis the advanced nations and is optimistic that Nigeria can brace up for the challenge of becoming the world's most nascent and strongest growing economy.