GLOBALIZATION AND NIGERIAN ECONOMY AND CULTURE

Abstract

Globalization has had negative impacts on Nigeria’s culture such as negative effects on the psyche of the younger generation some of which inculcate in them behaviours that are alien to Nigeria. These behaviours range from drug use, lesbianism, homosexualism, armed robbery, advanced fee fraud, etc. Economically, globalization has failed to reconcile or bridge the gap between the interests of the economically rich and strong, and the economically poor and weak peoples. It could be blamed for the get-rich-quick syndrome among undergraduates and young school leavers in Ni2qfwcgeria. Findings of the study includes that; deregulated business climate produced new crops of entrepreneurs who experiment and reap the good result from their efforts and creative instincts; globalization through privatization policy in the national economic system has overtly relieved the government of the large burden of financing public enterprises; sales of shares and assets realized over N3.7 billion as gross privatization proceeds from the privatization of 55 enterprises whose total original investment was N652 million; etc. The paper recommends, among others, that Nigerian development pattern should be tailored to suit what people outside its shores would love to see, appreciate and emulate, instead of viewing globalization as evil in its entirety. Also the government should use libraries, the mass media, and advanced information technology compliant programmes in order to counter negative changes that have emerged in the Nigerian society.