American International Journal of Social Science

Contemporary Globalisation and the Rural Economy in Nigeria
Laz Etemike, Omokiniovo Harriet Efanodor

Abstract
Globalisation is reflected in the policies of liberalisation, privatisation and deregulation. These policies which are imbedded in the neo-liberal economic tradition are seen as welfarist ideology that would lead to development; hence increase the living conditions the peoples. It is further argued that the implementation of globalisation policies in developing countries while integrating all countries into the global economy is a veritable solution to the economic growth. An overlooked aspect of the above claim is that globalization is a game of equal participation of countries with an unequal level of economic growth. The debate has thus raised the need to examine the impact of globalization on the rural economy in a developing nation like Nigeria. Nigeria is largely made up of rural communities, rich in land and natural resources that are critical to the rural economy and the economic survival of the rural communities. It is pertinent to note that rural economy contribute largely to a nation’s economic development. Bearing this in mind, a policy that has a negative impact on the rural economy is bond to have a devastating impact on the livelihood of the rural dwellers and the notions’ economy. Consequently, it is of vital importance to domesticate these policies rather than a wholescale implementation.

Full Text: PDF