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The paper contends that the question has more to do with the manner in which Nigeria has managed the domestic environment of its African policy over the years.
We posit that globalization made Nigeria a huge market for finished goods from developed economies and conditioned the country’s economy in to consuming one.
All this accomplished, Nigeria could join the league of nations enjoying the benefits of globalization.
Main Findings: The findings of the study shows that there is a negative relationship between globalization and Nigeria global economic competitiveness.
Research limitations/implications: The study adds to earlier works on economic competitiveness as a sound pillar of globalization by carving out an empirical analysis of Nigeria experience with globalization.

Related Questions

What are the challenges faced by businesses in Nigeria?5 answersBusinesses in Nigeria face several challenges. Lack of startup capital, limited access to accelerators and bank loans, and high/multiple taxes are major factors that hinder the growth of startups in Nigeria. The COVID-19 pandemic has also posed significant challenges to Micro, Small, and Medium Enterprises (MSMEs) in terms of declining productivity, business closures, supply chain breakdowns, and reduced customer demand. Small-scale enterprises in Nigeria face challenges such as financial constraints, lack of management skills, and inadequate access to funding. Family businesses in Nigeria also encounter sustainability challenges, including poor succession planning, harsh macro-economic environment, conflict of interest, and competition from multinational corporations. These challenges impact the ability of businesses in Nigeria to function optimally, contribute to economic growth, and ensure their survival and sustainability.
Is Nigeria the most populous country in Africa?5 answersYes, Nigeria is the most populous country in Africa.
How to encourage foreign investment in nigeria?5 answersTo encourage foreign investment in Nigeria, the government should focus on creating an enabling environment for foreign investors by addressing security challenges and improving the regulatory framework. Additionally, efforts should be made to attract more foreign direct investment (FDI) into the country through measures such as providing an investment-friendly environment and offering incentives to foreign investors. Trade openness should be encouraged to enhance FDI inflows, which can lead to increased employment opportunities and a higher standard of living. The government should also work towards maintaining economic stability by properly controlling the real exchange rate. Furthermore, reducing inflation and interest rates can help attract FDI inflows. By implementing these measures, Nigeria can create a favorable investment climate and attract more foreign investment to stimulate economic growth and development.
How has globalization impacted literacy rates in Nigeria?5 answersGlobalization has had a significant impact on literacy rates in Nigeria. With the advent of technology and digital media, the definition of literacy has expanded to include visual expressions and more. The process of globalization has facilitated teaching and learning across nations and continents, leading to an increase in the number of Nigerian students studying abroad. However, globalization has also brought challenges to Nigeria's cultural values, including language, with the risk of minority languages dying out. Additionally, globalization has had both positive and negative impacts on Nigeria's agricultural and economic sectors. While it has facilitated international trade and foreign investment, it has also led to the imposition of policies by international organizations that have negatively affected the Nigerian rural economy. In order to address these challenges and harness the benefits of globalization, it is crucial for Nigeria to provide well-equipped learning spaces and environments, as well as promote the use of children's literature to sustain national heritage and values.
What was Nigeria's response to the Niger coup?3 answersNigeria's response to the Niger coup was initially characterized by a lack of violence and military presence in most states of the federation. However, the Nigerian state later focused mainly on addressing armed militant conflicts targeting oil industry infrastructure in the Niger Delta, neglecting other forms of conflicts within the region. The Nigerian government has employed various strategies, both diplomatic and non-diplomatic, to resolve the crisis in the Niger Delta, but these strategies have failed to bring about a resolution. The study suggests that a combination of a professional military approach with moderate civil counterinsurgency strategies, along with measures to isolate counterinsurgency strategies from political interference, may be more effective in resolving the crisis.
How much foreign direct investment has Nigeria received in the last three years?0 answersForeign direct investment (FDI) inflows to Nigeria in the last three years have not been explicitly mentioned in the abstracts provided. None of the abstracts provide specific information about the amount of FDI received by Nigeria in recent years.

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