VIII-3. Globalization and the Emerging Issues of Development in Nigeria; Law, the Nigerian Economy and Corruption (friendly merged panel)

Conveners: Irhue Young Kenneth (Osun State University, Okuku Campus, Nigeria); e-mails:,, Benedicta Daudu (University of Jos, Nigeria); e-mail:, Edna Oiza Daudu (University of Jos, Nigeria),

Globalization and the Emerging Issues of Development in Nigeria (proposed by Irhue Young Kenneth)
Globalization encompasses the network of interaction between countries all over the world in the area of trade, foreign investment, capital market (human and material) and technology. This has encouraged the identification of the area of strength and comparative advantages of each country in the sphere of global interaction. Indeed, it creates competition and development especially in the capitalist economy. Nonetheless, the quest for development in Nigeria within the framework of globalization has become a challenge due to inequality in economic power as a developing economy. Developed economies dominate global relations as increased competition has led to strangulation of weaker economies. Different policies have come to play in enhancing the power of capital such as IMF/World Bank-imposed economic reforms. Consequently, the socio-economic foundations of the state are fast collapsing, resulting in rising unemployment, hegemony of private initiatives, inequalities in income distribution and dampened confidence of the people and external partners. Thus, the developing countries struggle endlessly for survival. In identification of the above challenges, this paper made recommendations with emphasis that the recommendations be implemented by the appropriate authorities.

Law, the Nigerian Economy and Corruption (proposed by Benedicta Daudu andEdna Oiza Daudu)
Corruption has had severe negative consequences on the economic growth and development of nations. Corruption has affected many countries all over the world especially the developing countries. It has various implications for both the developed and developing economies. Corruption hampers development and thus raises the level of poverty in any economy that finds itself entrenched in corrupt practices. Corruption creates uncertainty and risk in the growth and development potential of any country. This panel will present a review of corruption as it relates to the economic development of Nigeria. By using a theoretical method of analysis, the panel is to reveal that corruption is Nigeria’s biggest challenge. It is clear to every citizen that the level of corruption in the country is high. It is found in every sector of society. Be it a public or private sector, corrupt practices are easily observable. Corruption has been a deterrent to economic development in Nigeria. Corruption has a significant negative effect on economic growth and development. The panel is to provoke debate on the role of law in the anti-corruption crusade, strengthening the rule of law and promoting economic development and to propose policy recommendations that should underpin the road to Nigeria becoming the “next surprise”, on indices such as transparency, accountability and the application of the rule of law, in dealing with corruption leading to improved CPI ranking, induce investment, and foster economic growth and development.