Thesis Abstract

Abstract
The presence and operations of multinational corporations (MNCs) have a significant impact on the economy of Nigeria. This research explores the effects of MNCs on various sectors of the Nigerian economy, including employment, technology transfer, foreign direct investment (FDI), and overall economic growth. MNCs have played a crucial role in providing employment opportunities in Nigeria, both directly through their operations and indirectly through their supply chains and support services. By employing a large number of Nigerians, MNCs contribute to reducing unemployment and improving living standards in the country. One of the key benefits of MNCs operating in Nigeria is the transfer of technology and knowledge. MNCs often bring advanced technologies and managerial expertise that can help improve the efficiency and productivity of local industries. This technology transfer not only enhances the competitiveness of Nigerian companies but also contributes to the overall development of the country's industrial base. Foreign direct investment (FDI) inflows from MNCs have been a crucial source of capital for Nigeria, supporting various sectors of the economy such as manufacturing, agriculture, and services. FDI not only brings in much-needed capital but also helps in the transfer of skills, best practices, and access to international markets. This, in turn, can lead to the creation of linkages between local suppliers and global value chains, further integrating Nigeria into the global economy. Moreover, MNCs contribute to the overall economic growth of Nigeria by stimulating competition, increasing productivity, and fostering innovation. By introducing new products, services, and business models, MNCs drive economic dynamism and create a more competitive business environment. However, the presence of MNCs in Nigeria also raises challenges and concerns, including issues related to corporate social responsibility, environmental sustainability, transfer pricing, and competition with local businesses. It is essential for the Nigerian government to establish policies and regulations that ensure that the operations of MNCs align with the country's development objectives and promote sustainable and inclusive growth. In conclusion, while MNCs bring significant benefits to the Nigerian economy, there is a need for a balanced approach that maximizes the positive impacts of their operations while addressing potential drawbacks. By fostering a conducive business environment and implementing effective policies, Nigeria can harness the potential of MNCs to drive sustainable economic development and prosperity.

Thesis Overview

INTRODUCTION

1.1  BACKGROUND TO THE STUDY

Based in part on the development of modern communications and transportation technologies, the rise of multinational corporation was totally unanticipated by the classical theory of international trade as first developed by Adam Smith and David Ricardo. According to this theory which rests on the doctrine of comparative advantage each nation should specialize in the production and export of those goods that it can produce with highest relative efficiently while importing those good that other nations can produce relatively more efficiently.Nigeria Economy Underlying this theory is the assumption that white good and services can move internationally factors of production such as capital labour and hand are relatively immobile furthermore the theory deals only with trade in commodities; it ignores the role of uncertainty economies of scale  and technology in international trade and is static rather than dynamic.Contrary to the postulates of smith and Ricardo, the very existence of multinational corporation is based on international mobility of certain factors of production. Capital raised in London on the Eurodollar market may be used by on wise based pharmaceutical firm to finance the acquisition of equipment by a subsidiary in Brazil. Nigeria Economy

It is the globally world innate allocation of resources by a single centralized management that differenciate the multinational enterprise from  other firms engaged in international business. Decision regarding market entry strategy, ownership of foreign operations and production marketing, and financial activities and  made with an eye to what is best for the corporation as a whole. The true multinational corporation can be characterized by its emphasis on group performance rather than of its individual components.At the center of the debate on globalization  one the multinational corporations giant actors who think and act globule. Their existence is often associated with the phenomenon of globalization itself. These actors have gained power visibility and influence at all levels, and one determinant to the setting and implementation of the “ global agenda”. MNCS have created a massive wealth and propelled high technological  development.Nigeria Economy