Globalisation and Competitiveness in Nigeria

Saviour Sebastian Udo and Augustine Okon Jacob
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Saviour Sebastian Udo: Department of Economics, University of Calabar, Cross River State, Nigeria
Augustine Okon Jacob: Department of Economics, Obong University, Obong Ntak, Akwa Ibom State, Nigeria

International Journal of Research and Innovation in Social Science, 2021, vol. 05, issue 10, 487-495

Abstract: This study examines the effect of globalization on the competitiveness of Nigeria. The methodology of the classical linear regression paradigm was used for the empirical study of the Autoregressive Distributed Lag technique. The data were sourced from the Central Bank of Nigeria (CBN) Statistical Bulletin 2019 and World Development Indicators. Globalization, Company Comfort (EODB), Federal Foreign Direct Investment (FDI), imports on capital goods and Government Efficiency (GOVEFF) from 1980 to 2018 (WDI). The results showed that globalisation, both in the long run by 0.9787 and in the short run by 0.27606, had a positive and significant effect on Nigeria competitiveness. The result described a number of drivers of Nigerian globalisation, for globalization and competitiveness. Based on these results, the study recommended that the government implement policies to ensure that companies flourish in a conducive setting. In Nigeria, in particular, a seamless business registration process should be created. This study suggests other steps that the government should put in place to make Nigeria more competitive in an increasingly global market which are credit facilities, tax incentives, and infrastructure provision.spread fake messages and instigate panic amongst members of the general public but is still being used for accessing health messages on covid inspite of this negative trend.

Date: 2021
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