CONTRIBUTIONS OF MULTINATIONAL CORPORATIONS IN THE ECONOMIC DEVELOPMENT OF NIGERIA

📄 Project Abstract

The historical origin of multinational corporations can be traced to the major colonizing and imperialist ventures from Western Europe, notably England and Holland, in the 16th century. During this period, firms such as the British East India Trading Company and Dutch East India Company were formed in 1600 and 1602 respectively, to promote the trading activities or territorial acquisitions of their home countries in the far East, Africa and the Americas (Aldana and Posadas, 1994). John (1993) asserts that with the advent of industrial capitalism and its consequences in the 19th century, the development of the factory system, larger, more capital intensive manufacturing processes, better storage techniques and faster means of transportation, the need to expand businesses beyond international boundaries arose. Before the independence in 1960 and thereafter, more and more international companies continue to find their way into the Nigerian economy. Even till now, more of these large...