International Pressures on Nigeria's Economy: An Evaluation of Activities of MNCs

Multinational Corporations play a major role in global economic development. Indeed, some scholars have argued that MNCs act as an instrument of both globalization and integration. But another school, particularly Third World scholarship believes that MNCs are rather a continuation of Western colonization by subtle economic means and thus, an agent of underdevelopment. This paper examines the strands with reference to the Nigerian socio-economic milieu, i.e., it attempts a critique of the activities of MNCs in the Nigerian economy. It identifies the overstretched limits and vicious impact these have had on the economy, including the promotion of social decadence and political corruption. This piece uses historical descriptive-analytical method, maximizing and adding to existing literature. The study not only provides alternative means by which MNCs can be used as launch-pad to economic prosperity, but suggests how Nigeria, like other Third World nations, can use its foreign policy to liberate themselves from neocolonial exploitatio