Examine the impact of globalisation on a developing economy that you have studied. - Leaving Cert Geography - Question B - 2013

One major impact of globalisation on Nigeria is the increase in foreign direct investment (FDI). Global companies are attracted to Nigeria's vast resources and market potential, resulting in capital inflow that boosts economic development.

Additionally, globalisation has enabled Nigeria to integrate more into the global market. This integration allows local businesses to access international markets, thereby increasing their competitiveness and expanding their reach beyond national boundaries.

With increased competition from foreign companies, local firms are pressured to innovate and improve their products. This can lead to enhanced quality and variety of goods and services available in Nigeria, benefiting consumers.

Globalisation has also led to opportunities for skill development among the Nigerian workforce. Partnerships with multinational corporations often include training programs that enhance the skills of local workers.

However, the effects of globalisation are not solely positive. Increased industrialization has taken a toll on Nigeria's environment, leading to issues such as pollution and unsustainable resource exploitation.

Socially, globalisation can contribute to cultural homogenization, where local cultures may be overshadowed by dominant foreign cultures, potentially threatening Nigeria's rich cultural diversity.

Furthermore, Nigeria's economy can become vulnerable to global market fluctuations. A dependency on foreign investments makes the economy sensitive to international economic changes, which can lead to instability.

In examining the impact of globalisation on Nigeria, it is evident that while there are numerous benefits, including economic growth and skill development, there are also significant challenges, such as environmental degradation and cultural threats. A balanced approach is crucial for harnessing the positives while mitigating the negatives.