The concept of globalization isn’t a new or novel phenomenon to the human society according to

Held et al. (1999). Man has always moved around in search for a better or expanded trading
platform which translates to a search for a better life. From time immemorial, man has always
tried to break both physical and abstract barriers in order for a better and beneficial relationship
with his fellow man. This concept on its own has long embodied the phenomenon of
globalization. Nevertheless, the toll in which globalization has taken on individual countries or
societies widely differ. Basically, this can be divided into two which is the effect it has on the
developed countries and on the other hand the effect it has on underdeveloped countries.

Globalization works in a homogenous manner in the sense that its rules are not separately set
based on the general wellbeing of countries in particular, rather, the effect it takes on each
country depends how well-equipped the country is to handle the outcome. For instance, if OPEC
makes changes to its pricing on crude oil products, its member states will feel the effects
according to how economically grounded they are in the oil industry.

There are 3 ways we can generally analyze the effects of globalization in Nigeria in the 21st
century. These are Cultural, Economic and political effects.

Cultural effects: Less subtle than before, there is an encroachment of foreign culture in the
Nigerian society. The media/internet has made this very easy and rampant. We now see copying
and inculcating other people’s culture as a norm. A typical example of this would be the
abandoning of the traditional method of conducting weddings and opting for an Indian culture
themed wedding which is mostly influenced by Bollywood movies. The fear of loss of identity
most especially on the side of the younger generation is peculiar to every society. Nevertheless,
we can see this as cultural diversity as there’s a superfluity of cultural products for every
individual to pick from.

Economic Effects: This aspect sees Nigeria trying to chase the developed countries in terms of
economy and development. On the contrary though, there is a misplaced priority. Nigeria as a
country has gone through a lot of turbulent governance in the hands of both military rulers and
civilian politicians. In quest for a better life, rich elites in Nigeria would rather have their
investments and properties in the developed countries where they feel it will do better within a
short period as compared to in Nigeria. Trade freedom in the 21st century has opened the ways to
this act as Nigeria where most of the resources are gotten keeps deteriorating in economic values.
The ease of shipping our crude oil overseas for refining has made us neglect our own refineries
which are in a state of dilapidation for decades.

Political Effects: Nigeria undoubtedly has been influenced politically by globalization most
especially from the western world. The influence has helped provide checks and balances in
today’s governance. In an aim to boost our world political reputation, Nigeria has worked hard to
maintain democratic governance. This is mostly simply in emulation of the developed countries.
Globalization for the 21st century in Nigeria has definitely brought about rise in the volume of
global market, increase in competition, job creation, cultural diversity and Aid development but
there’s the fear that it might later resort to total culture and media imperialism, cultural
homogeneity, and loss of jobs. This just states that we can at an early stage, put a measure to how
much influence we want to allow for globalization.