Keywords: globalisation, exploitation, inequality, marginalisation, developing economies, developed economies, human endowment, competitive advantage, local capacity, entrepreneurial development, Nigeria, entrepreneurship, Africa
Globalisation and the problems of entrepreneurial development in Nigeria
This paper argues that globalisation is a force of inequality and marginalisation. The reason is it exploits the world's developing economies. This threatens entrepreneurial development and human security. The paper seek to, through dependency paradigm, concretise the view that despite the excitement generated by globalisation as invitation to a world that is increasingly interconnected and borderless Nigeria (like other African countries) comes out at a disadvantage. Rather than gain from globalisation considering her enormous contributions to the global economy via her rich human and material endowments, Nigeria still faces its retrenching side effects such as mounting debt profile, capital flight, local industry collapse, over-dependence on imported goods and services, mono-product economy, etc. Hence, the Western allies encourage Nigeria to open her economy for rape with little or no access to other economies for her lack of the competitive advantage derivable from local capacity utilisation and functional entrepreneurial development.