Journal of Economics and Sustainable Development www.iiste.org ISSN 2222-1700 (Paper) ISSN 2222-2855 (Online) Vol.6, No.10, 2015 238 The Socio-Economic Impact of Globalization in Nigeria N.GLADSON NWOKAH DEPARTMENT OF MARKETING, FACULTY OF MANAGEMENT SCIENCES, RIVERS STATE UNIVERSITY OF SCIENCE AND TECHNOLOGY, PORT HARCOURT KENNETH C ADIELE DEPARTMENT OF MARKETING, FACULTY OF MANAGEMENT SCIENCES, RIVERS STATE UNIVERSITY OF SCIENCE AND TECHNOLOGY, PORT HARCOURT ABSTRACT The aim of this study is to assess the socio-economic impact of globalization in Nigeria; and to compare the differences of these impacts in the public and private sectors in Nigeria. The study adopted a survey method through the use of close-ended questionnaire from the results of two pilot studies to elicit information from 233 staff of the Nigeria private and public sectors. Returned instrument were analyzed using both descriptive and inferential statistics; descriptive statistics – mean and standard deviation was used to respond to the research question and the independent sample t-test was used to assess the differences in socio-economic impact of globalization as perceived by the Nigeria private and public sectors. The study found skill development, commitment to and positive work attitude as major area globalization has impacted socio-economic development in Nigeria public and private sectors. Statistical evidence from this paper shows significant differences in the socio-economic impacts of globalization Nigeria private and public sectors were identified, with the private sector being more committed than Nigeria public sector. A recommendation for further study to investigate the results and conclusion of this study in other sector of the economy and possibly in other Africa developing nation is made. INTRODUCTION In recent time, it is observed that the wave of globalization phenomenon has taken a centre stage as a dominant feature in the international socio-economy. It is inevitably a phenomenon that no country can escape. It is on this note that many countries are compelled to take strategic steps towards actualizing their economic growth and development.in the circumstance, Nigeria is at liberty to either position itself and maximizes the benefits of this New World Economic order or be left away as by-stander or marginal player in the international economic configuration (Tandon, 2000). Putting this into consideration, the globalization of the world economic system has, however, forced many developing countries such as Nigeria to initiate policy measures and establish institutional frameworks aimed at accelerating their growth and development in line with current global economic trend. Globalization constitutes a mega trend in global social economy and has assumed a new phase in contemporary international economic relations (Akinboye, 2008). Given the emergent socio-and economic transformation as well as the technological advancement in communication, information, transportation etc, the process seems to be irreversible (Yaqub, 2003). Nation States have indeed consistently intensified efforts towards engaging in business across national borders and constructing production and distribution networks on a global scale. The purpose of this study is to examine the phenomenon of globalization and its impacts on socio-economic development in Nigeria. Following the introduction, the study will compare the perceive impact of globalization in the Nigeria public and private sectors. Specifically, this study will 1 Examine the items that contribute more on the impact of globalization on the socio-economic development in the Nigeria private and public sectors. 2 Compare the impact of globalization on the socio-economic development in the Nigeria public and private sectors. Based on the research question above, this study hypothesises thus: HA1: There is significant difference in the perceive impact of globalization on socio-economic development between the Nigeria private and public sectors. THE CONCEPT OF GLOBALIZATION Borrowing from Held et al.(1999, p. 16) Seldon (2008) argues that globalization involves a process (or set of processes) which embodies a transformation in the spatial organisation of social relations and transactions – assessed in terms of their extensity, intensity, velocity and impact – generating transcontinental or interregional flows and networks of activity, interaction, and the exercise of power. He went further to analysis this by emphasising some key points in the definition.. First, globalization is a set of processes rather than a description of the (fixed) state of a system. Second, central to the concept is the idea of spatial transformations in patterns of interconnectedness. He further argues that conceptually and