IMPACTS OF GLOBALIZATION ON THE NIGERIAN ECONOMY

Abstract

This paper examines the strategic impact of globalization on the Nigerian economy. Globalization, characterized by increased interconnectedness and interdependence among countries, has brought about significant transformations in Nigeria's economic landscape. The analysis begins by clarifying the concept of globalization and establishing a theoretical framework for the study. Subsequently, the paper explores the positive and negative effects of globalization on the Nigerian economy. Positive impacts include access to new markets and expanded business operations, while negative impacts encompass exposure to external shocks and vulnerabilities. The paper concludes by offering recommendations to Nigeria on how to maximize the benefits of globalization while minimizing its adverse consequences. By understanding and effectively managing the strategic implications of globalization, Nigeria can navigate the complexities of the global economy and achieve sustainable economic development.