Empirical Review of Globalization and Entrepreneurship Development in Nigeria

Abstract

This paper empirically examines the impact of globalization on entrepreneurship development in Nigeria. The assessment is premised on a qualitative analysis based on existing literatures on indigenous entrepreneurship and industrial activities for the past fifteen years that the propagation of globalization has become manifest across nations and continents of the world. The empirical evidences show that globalization per-se is not bad as it has brought some benefits to nations across the globe. However, it is the contention of the paper that, for developing countries like Nigeria, the disadvantages of globalization far out-weigh its benefits. Equally, the paper opined that for a government that preaches entrepreneurship development as one of its policy option for economic growth and sustainability, embracing globalization in its entirety at this point will lead to policy asymmetry. The paper therefore recommends that Nigeria government should as a policy measure protects the indigenous entrepreneurs from the shackles of globalization to enable them build enough capacity to compete at the global arena. In conclusion, the paper recommends that developing countries and Nigeria in particular should operate a guided open system to choose and select the area of the economy and businesses that should be thrown open to international competition.