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HISTORICAL ANALYSIS OF GLOBALIZATION AND NIGERIA FOREIGN POLICY: GOODLUCK JONATHAN REGIME EXAMINED
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
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
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.
1. Ibrahim, M.J. (2010) The Effects of Globalization on the Development of Underdeveloped Economies, http://www.econ.cam.ac.uk/ Accessed: 03/06/2010, p 1
2. Thornhill, C. (2007) “Globalization: Administrative Effetcs for Africa”, African Journal of public Affairs, Volume 1, No. 1 December 2007. P.14
3. United Nations Conference on Trade and Development (UNCTAD) (2009) World Investment Report, TNCs and the Infrastructural Challenge. New York: United Nations
4. Ijeoma, E. O. (2007), “Globalizing Public Ethnics and Interest: Policy Alternatives for Developing Countries,” African Journal of public Affairs, Volume 1 No. 1 December 2007