Examine the impact of colonialism and/or globalisation on a developing economy that you have studied. - Leaving Cert Geography - Question 1 - 2006

Colonialism has significantly shaped Nigeria's economic structure by establishing export-based economies that focused on raw materials. Globalization has further integrated Nigeria into the global economy, promoting increased foreign investment but also leading to economic vulnerability due to dependency on global market fluctuations.

The impact of colonialism on Nigeria can be examined through various lenses:

1. Economic Dependency: Colonial rule prioritized the extraction of Nigeria's resources, which led to the creation of mono-economies focusing on commodities like oil, cocoa, and rubber. This dependency has persisted into globalization, making Nigeria vulnerable to global price changes.

2. Loss of Local Industries: Traditional industries were often undermined during colonialism as colonial powers imposed their own goods and production methods. This disruption created long-term challenges for local manufacturers.

3. Infrastructure Development: While colonialism introduced certain infrastructures, primarily for exploitation purposes (like railways and roads), these developments often did not benefit the local economy long-term and were intentionally designed to serve colonial interests.

4. Cultural Impact: Globalization has facilitated the spread of foreign cultures through media and consumer goods, which can sometimes erode local customs and practices, leading to cultural homogenization.

5. Foreign Investment: Globalization has seen an influx of foreign direct investment into Nigeria, especially in the oil and gas sectors. While this has fueled economic growth, it has also led to environmental degradation and social conflicts in oil-rich regions.

6. Remittances and Global Workforce: Many Nigerians work abroad, and remittances significantly contribute to the economy, showcasing how globalization has opened up pathways for economic support. However, reliance on foreign earnings can create instability.

7. Social Inequality: The benefits of both colonialism and globalization have disproportionately favored urban elites, leading to increased social and economic inequalities within Nigeria.

8. Economic Policies: Post-colonial economic policies, influenced by globalization, have led to structural adjustments that often emphasize privatization and deregulation, sometimes at the expense of local needs and priorities.

In conclusion, while colonialism established a foundation that has shaped Nigeria's economic realities, globalization has both further entrenched existing vulnerabilities and opened new avenues for economic development. The interplay of these factors continues to define the challenges and opportunities that Nigeria faces today.