Abstract:

With the emerging evidences of deterioration within the Nigerian economy, it is becoming more necessary to redirect the economic wheels of the dying giant of Africa. Economic events build-up in Nigeria since the 1980s have illustrated a country that is economically rudderless and mismanaged hinged on globalisation. The Structural Adjustment Programme (SAP) that negatively impacted on the educational and economic trajectory of the country, the heavy interest loans, the pervasive neo-colonial conquest within the African region and so on, are all themes to be question when the developmental hurdles in the country are being lined up, howbeit, designing any policy trajectory has to be within the purview of industrialisation and indigenisation of consumption pattern, thus, inadvertently creating an export oriented economy. Nations and countries have been following the concept of glocalisation in practice centuries in time, while others have newly joined the wave of glocalisation. This paper adopts comparative advantage theory as a theoretical framework to situate this work properly within the scope of political economy. The paper adopts the secondary source of data collection and a content analysis model to analyse the data gathered, while the analysed data is presented with a narrative approach. This paper points out the flaws of the current rentier and import monolithic approach to the global market, and recommends glocalising the country’s economy to sacle newer feats within the global capitalist structure.