The effects of globalization on national development policy implementation in Nigeria.
No Thumbnail Available
Date
2018
Journal Title
Journal ISSN
Volume Title
Publisher
Published by College of Management and Social Sciences, Kwararafa University, Wukari, Taraba State, Nigeria.
Abstract
Globalization has become a major issue in measuring development policy implementation across the globe. It is a concept that expands the nation’s investments through multilateral trading system and it possesses ability of having higher comparative advantage in terms of a wider market and patronage in relation to non-globalized states. Nigeria as one of a sovereign state in the world has formulated series of development policies towards repositioning her economy since independence. Unfortunately, the policy did not achieve its target objective due to its mono-economic policy adopted since discovery of crude oil for external consumption occasioned from globalized politics with her European partners. This decision has brought unfavourable balance of trade relations with her global partners and this has limited her financial capacity to successfully implement any sustainable policy years after its independence. Relying on secondary data, theoretical mode of analysis was adopted in order to argue that globalization trend has not effectively impacted in Nigeria’s national development drive as experienced among Asian Tigers recently. The paper therefore recommended the need for government in power to re-appraise its economic policy towards promoting economic diversification in order to correct unfavavourable balance of payment that has incapacitated the country financially towards implementing sustainable development plan policy in Nigeria.
Description
Keywords
Globalization, Challenges, Policy Implementation, National Development Plan
Citation
Garuba, R. O., & Ameen, A., (2018). The effects of globalization on national development policy implementation in Nigeria. African Journal of Management, Social Sciences and Humanities. 7 (2): 21-47.