Academic journal article Ife Psychologia

Globalization, Poverty and National Development; the Nigeria Situation

Academic journal article Ife Psychologia

Globalization, Poverty and National Development; the Nigeria Situation

Article excerpt

The interaction between poverty and socio-economic development, particularly in the developing countries of the world has posed challenging problems. This is because the inequality existing between the developed and Third World countries continues to deepen while the dependency relationship overstretches the widening gap between the economic blocs through the internationalization of the capitalist system. The interaction and dependency relationships have created challenges to finding the root cause of poverty and its eradication to the extent that questions are now asked whether poverty is indigenous to Africa or it came into existence as a result of colonization. This paper examines the linkage between colonization, globalization and poverty taking Third World countries as point of reference. It examines the incidence of poverty in Africa in relation to the forces of globalization. The paper critically explores how Nigeria's participation in globalization processes can institute plausible strategies to stimulate foundation for economic regeneration and national development. It is the position of this paper that the strategies recommended would stem the tide of poverty incidence in Nigeria particularly and stimulate national socio-economic development.

Key words: Globalization challenges, Poverty incidence, Economic polarization, Dependency, Global trading environment.

Introduction

The history of societies and stages of development are challenged with how to eliminate, if possible, the confronting problem of poverty. African nations have been confronted with the problem of economic stabilization, low quality of life of the people, continued dwindling economic situation and many more. Yet every government in power has developed and implemented policies aimed at alleviating this aggravating situation, particularly as it relates to poverty incidence. It is expected that globalization would have brought a sigh of relief to the Third World countries regarding their economic and national development. Rather than do this, the advent of globalization defined the position of these developing economies in the scheme of economic and technological development.

The attempt by the technologically and financially backward countries at executing policies and programmes that restructured their economies to the demands and growing trend of globalization has not achieved the expected result. Even at that, the impersonal nature of globalization and its demands on virtual automatic response to the changing situation continues to widen the gap between the proponents and beneficiaries of globalization. This revolutionary restructuring has left much than deserved. It has created more problems for the poor countries than they envisaged.

The Challenging Problems of Poverty and Globalization

The currently assessed poverty incidence in the Third World countries (Chen and Ravallion, 2004) leads one to conclude that the euphoria that heralded globalization phenomenon fizzled out than the South (less developed countries) could grapple with the demand of its competitive nature. The attempt by Third World countries to adjust to the excruciating demands rather widened the gap between them and the technologically advanced north who hysterically let out a loud guffaw to the guff pleas and debt rescheduling request by the South (the poor nations). This demands a reflection over the euphoria with which the colonized Africans welcomed colonization. Three manifest reasons given by Europe for colonizing Africa accounted for the euphoria. These reasons included the abolition of slave trade, evangelization and establishment of legitimate trade. The last issue indicated that Africans were not engaged in any form of legitimate trading before the coming of Europeans. Slave trading was not just an African phenomenon (Curtin, 1979: 304). The slaves were sold to the white explorers who made use of them in American plantations and industries. …

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