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SUMMARY
Globalization is an irreversible process in accord with natural laws and has come to stay. Globalization is an age long phenomenon. Nigeria has not been spared or left out from the phenomenon of globalization. The adverse consequences have become more pronounced. Nigeria has become relatively more integrated with the global economic, political, social and cultural system.
Globalization, the closer interaction between national economies through trade, investment and capital flows, made possible by technological development and advancement in telecommunication, has increased global welfare and transformed the world into a global village. Globalization has been facilitated by the activities of multinational corporations (MNCS), the multilateral monetary and financial system especially the Bretton Woods Institutions and international trading arrangements under the general agreement on Tariffs and Trade (GATT), now the World Trade Organization (WTO).
