GLOBALIZATION AND THE UNDERDEVELOPMENT OF AJAOKUTA IRON AND STEEL INDUSTRY IN KOGI STATE, NIGERIA 1979-2013

Prof Vaaseh Godwin Aondonhemba   (Published 2018)

Prof Godwin Aondonhemba
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Abstract


Globalization is an age-long historical phenomenon that is contemporaneously defining the pace and pendulum of the economic, political and socio-cultural trajectories of nation-states world-wide. In most third world countries especially in Africa and Nigeria in particular, this capitalist process has been most pervasive and devastating particularly in Nigeria’s drive toward rapid industrialization. Thus, the Ajaokuta Iron and Steel Complex that was built by the Federal government of Nigeria in 1979 as a panacea to the multi-variegated crisis of underdevelopment in Kogi State and Nigeria generally has lamentably become a sort of failed project, a steel rust and a permanent foreign exchange guzzler heightening the development woes of the country that it was meant to address. This paper argues, from the caboose of history, that the forces of globalization have been largely the raison d’être for the many problems facing the industry. It situates analysis within the gamut of international transnational corporations and the mercantile global democratic institutions as agents of underdevelopment in Nigeria perpetrated through their suffocating African economies and their role in engendering capital flight, policy summersaults, transnational cannibalism, unbridled bribery and corruption and unemployment. Using both primary and secondary sources of historical research, this paper recommends feasible strategies that will lead to the development of a viable Iron and Steel Industry in Ajaokuta for a sustainable industrialization of North-Central Nigeria in the 21st century.


Item Type: Journal article(non-copyrighted)
Format: PDF document,   472.28 KB
Copyright: Creative Commons LicenseCreative Commons license
Keywords: Globalization, Underdevelopment, Iron and Steel Industry, Ajaokuta, Nigeria
Department: History and International Studies
Field of Study: History
Uploaded By: Aimomoh Joseph Inofe
Date Added: 06 Mar 2019 2:45pm
Last Modified: 06 Mar 2019
Journal URL: https://www.edouniversity.edu.ng/oer/journal/globalization_and_the_underdevelopment_of_ajaokuta_iron_and_steel_industry_in_kogi_state_nigeria_1979-2013


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