ASSESSMENT OF GLOBALIZATION AND ECONOMIC DEVELOPMENT IN NIGERIA (A STUDY OF SAKI WEST LOCAL GOVERNMENT)

ABSTRACT This study critically assessed the impact of globalization on economic development in Saki West Local Government, Oyo State, Nigeria. It examined how globalization influences employment generation, income distribution, the growth of local industries, and the adoption of new technologies. The study adopted a descriptive survey research design, using a structured questionnaire distributed to 50 respondents selected through purposive sampling. Data were analyzed using both descriptive statistics and inferential methods, particularly the T-test via SPSS. Findings revealed that globalization significantly affects employment opportunities, income patterns, local industrial development, and technology uptake in the area. While globalization has introduced new ideas and improved access to global markets and resources, it also poses threats to local enterprises and exposes the local economy to external shocks. The study concludes that although globalization has positively influenced economic development in some areas, its full benefits are yet to be realized in Saki West due to infrastructural and policy limitations. The study recommends that government and local authorities should adopt strategic policies to harness the benefits of globalization, support local industries with technology and financing, improve infrastructure, and reduce economic inequalities. This will enable rural areas like Saki West to participate more effectively in the global economy.