Abstract:

International trade has taken a blooming turn since the great depression of 1929 which resulted in a recession that greatly affected the industrialised world. Globalisation took the world stage not too long after, to extend capitalism to every other part of the world. In doing this however, the industrialised countries of the world had to penetrate the non-industrialised countries which are touted to have the larger market size within the international system, for the purpose of disposing excess products from their factories. Noteworthy, is the fact that glocalization has served as a standard for development, in the case of the isolationist policies that helped America build its economy from within, the same for China in the 1980s, while countries that have not developed before the wave of globalisation were swept off their feet, making development a tough chase if at all they have the opportunity to. Also, there was an elaborate exploration of the territories of underdeveloped countries for economic gains, which most times represents a means to proliferate Western interests. The workings of Industrialisation in recent times have taken a form of indigenisation and glocalisation, in which countries of the world adopt comparative advantage in order to feature in the world market. In the context of the Nigerian economy, the theoretical framework of comparative advantage will be put to test to identify the possibility of glocalisation on the Nigerian economy. The collection of data will be based on secondary data sources, while the use of content analysis will suffice for in-depth analyses on the data collected. This paper seeks to enlighten students, scholars and lay readers on the feasibility of glocalising the Nigerian economy without prejudices to current economic realities.