1.1 Background of the study
The A brief look at Nigeria today one can find out that we like fashion and everything new in Nigeria, the spirit that greeted the issue of globalization at its climax in 2000 seemed to have reduced.
The word globalization also seems to have gone the internet, computerization and cyber café. Globalization as an economic concept has been viewed at differently by different academic scholars, to represent so many things. However, globalization has been defined by John Vogi (Vanguard 2003) to mean a word that is liberalized of barriers to trade and invest where cooperation can produce and sell almost any service and can produce an
ywhere.
Globalization also in recent times involves trillions of dollars of investment. Globalization whether for or against remains a subject on which there has been comprehensive and unyielding misunderstanding especially concerning the constraints that it does not place on the power of government.
Moreover, since globalization also means the growing inter-dependence and inter-connectedness of the modern world, it boosts the economic development.
Furthermore, any nation or country globalization sets in the economy of that nation starts waxing strong. According to Ajodele (1995), the increase of movements of good, services, capita and information access, national borders is rapidly creating a single global economy.
The process is drawn by technological advance and reduction in the cost of international transactions, raise the share of trade in the world of production and increase the mobility of capital. According to Jack show, British Foreign secretary in a write up the international Guardian of September 10, 2011, he said attempts to manage change in global levels are in their infancy. To him global market, global, world wide access to each other and information both give us a sense of belonging.
Steward (1990) noted that the impact of globalization on poor people varies widely both between countries and within them, depending on initial circumstance and on the policies that government pursue. For instance in China poor people living in coastal province have benefited more from increased export and investment than those in land provinces.
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