Economic globalization and poverty reduction: A Nigerian perspective

Abstract

Abstract. This study aimed to look at the impact of economic globalization on African countries with special attention to Nigeria. It tried to answer the fundamental question underpinning globalization:  Has globalization really increased poverty as against poverty reduction in Africa? The philosophy behind globalization envisages the growing interconnection of human activities, the imperatives of local, national and regional economic integration and interdependence as well as responding together to global problems. Dependency theory gave basis to the work in order to ventilate the subject of the study. Data for the study was collected from a secondary source. Descriptive statistics was used in analyzing the data. The Chi-square and the F-distribution done with the help of E-views showed that economic globalization has increased poverty as against poverty reduction in Nigeria. Consequently, the study recommended a way out: globalization properly understood, translates into human, economic and ecological solidarity. Keywords. Economic Globalization, Poverty, Reduction, Africa, Nigeria. JEL. F60, I30.