Multinational Corporations And Economic Development In Ogoni Lga’s, Rivers State 2010-2022

Project and Seminar Material for Economics

Multinational Corporations And Economic Development In Ogoni Lga’s, Rivers State 2010-2022


Abstract


This study was carried out to examine multinational corporations and economic development in Ogoni Local Government Area of Rivers State between 2010-2022. The study specifically was aimed to find out whether multinational corporations has generated employment opportunities in Ogoni local government of Rivers State between 2010-2022; find out whether multinational corporations has contributed to technological development in Ogoni local government of Rivers State between 2010-2022; find out whether multinational corporations has contributed to wealth creation and circulation in Ogoni local government of Rivers State between 2010-2022; find out whether multinational corporations has improved infrastructural development in Ogoni local government of Rivers State between 2010-2022; and find out whether multinational corporations promoted human capital development in Ogoni local government of Rivers State between 2010-2022. The survey design was adopted and the simple random sampling techniques were employed in this study. The population size comprised of residents in Ogoni Local Government Area of Rivers State. In determining the sample size, the researcher conveniently selected 147 respondents and 141 were validated. Self-constructed and validated questionnaire was used for data collection. The collected and validated questionnaires were analyzed using frequency tables. While the hypotheses were tested using Chi-square statistical tool. The result of the findings reveals that multinational corporations generated employment opportunities in Ogoni local government of Rivers State between 2010-2022. The study also revealed that multinational corporations contributes economic development in Ogoni local government of Rivers State. Therefore, it is recommended that the government should either convince or mandate multinational firms operating in the nation to boost the share of profits they reinvest in the nation and use to fulfill their social obligations to both their host communities and the nation at large. Additionally, this will avoid any unfavorable effects of those MNCs returning their enormous profits to their home nations. To mention but a few.


Table of Content


  • Title Page
  • Certification
  • Dedication
  • Acknowledgement
  • Table of Content
  • List of Tables
  • Abstract

Chapter One:

Introduction

  • 1.1 Background of the Study
  • 1.2 Statement of the Problem
  • 1.3 Objective of the Study
  • 1.4 Research Questions
  • 1.5 Research Hypothesis
  • 1.6 Significance of the Study
  • 1.7 Scope of the Study
  • 1.8 Limitation of the Study
  • 1.9 Definition of Terms
  • 1.10 Organisations of the Study

Chapter Two:

Review of Literature

  • 2.1 Conceptual Framework
  • 2.2 Theoretical Framework
  • 2.3 Empirical Review

Chapter Three:

Research Methodology

  • 3.1 Research Design
  • 3.2 Population of the Study
  • 3.3 Sample Size Determination
  • 3.4 Sample Size Selection Technique and Procedure
  • 3.5 Research Instrument and Administration
  • 3.6 Method of Data Collection
  • 3.7 Method of Data Analysis
  • 3.8 Validity of the Study
  • 3.9 Reliability of the Study
  • 3.10 Ethical Consideration

Chapter Four:

Data Presentation and Analysis

  • 4.1 Data Presentation
  • 4.2 Analysis of Data
  • 4.3 Answering Research Questions
  • 4.4 Test of Hypotheses

Chapter Five:

Summary, Conclusion and Recommendation

  • 5.1 Summary
  • 5.2 Conclusion
  • 5.3 Recommendation
  • References
  • APPENDIX
  • QUESTIONNAIRE

Chapter One


Introduction

1.1 Background of the Study

According to some schools of thought, such as Ikelegbe (2005), Ogbgbo (2005) and Akerodolo (2010) multinational corporations are vital weapon for fighting the issue of underdevelopment and they also view the multinational corporations as an engine of development that contributes to the growth of a nation. Despite their diabolic operations such as under involving of exports and over pricing of technology they still perform some useful roles which in one way or the other help to improve the living conditions of the people and the economy. Andabai (2010) noted that, multinational corporation has been seen as company that own and manage business in two or more countries. Multinational corporations are also business conglomerate that have company which has it parent headquarters located in a developed country and subsidiary operation in a number of other countries (Omotola, 2006). There are many multinational corporations in Nigerian economy examples are manufacturing companies, banking, automobile companies, mineral exploration, just to mention a few (Ake, 2008).

The concept of multinational corporations and its contributions to the development of Nigerian economy has been focused on the relationship between multinational corporations and its activities in Nigeria (Andabai, 2010). According to Odogbor (2004), Nigeria is less developed and shares the same characteristics with other less developed countries such as low level of savings, investment and lack of managerial skills etc. According to Edem (2004), Nigeria require the flow of resources from developed countries and multinational Corporations and he also observed that, like other business ventures, multinational corporations are to maximize profit. Akerodolo (2010) opined that, the oil industry which is one of the largest and important industries in the world, in its wide areas of operations, the industry affects almost all the country. Vadevell (2000) maintained that, modern multinational corporations bear some resemblance to the transaction of merchants’ and the colonial trading companies of the 17th and 18th centuries. The merchants and the colonial trading companies engages in merchandise trading within the colonial territories and laid a foundation of modern development and underdevelopment of the less developed countries (Ldcs) but the present day multinational corporations are engaged in local productions (Enwereuzor, 2009). Onormode (2004) posits that, the contributions of the multinational corporations to the development of Nigerian economy during the past two or three decades cannot be over-emphasized.

Onuoha (2005) asserted that, one of the major arguments in the literature on international political economy has centered on the role of Multinational Corporation (MNCS) in the third world countries. Critics of the multinational corporations see themselves as center for international economy development in the Less Develop Countries (LDCs) (Raymond, 1999). According to Andabai et al (2006), it is believed that, multinational corporations do participate in promoting national development, but the level of such participation shows more evidence of failures rather than achievement, and as such has been ignored by most areas which its operate. Awobajo (2006) reaffirmed that, there are strong belief in public opinions in Nigeria that the operation of oil multinationals has done more human than good to areas of which its activities is carried out. Nwosu (1985) concluded that, as a result of oil operations in these areas, Multinational Corporation has been described as agent of bringing economic and social degradation in their communities.


1.2 Statement of the Problem

In Nigeria, the activities of multinational companies have been identified as questionable or even unethical because of the harms they have caused on the society. Because of their formidable resource base, they dominate the economy, straddle the indigenous entrepreneur and in the process create a monopoly. In the oil sector which is the economic mainstay in Nigeria, these corporations perpetrate heinous activities such as pollution of the environment, inadequate technology transfer, violation of human rights, blunt refusal to discharge their social responsibilities, gas flaring which destroys wildlife, seafood’s and farmland especially in the Rivers State without adequate compensation. Equally, the activities of these multinational corporations have led to increase in anti-social activities like drug abuses, prostitution, kidnapping, armed robbery and murder etc. Nigeria has lost billions of Naira to foreign countries through act perpetrated by multinational companies such as tax evasion, bribery, under-declaration of profit, over-invoicing, smuggling, and racketeering. In view of the above, this study seek examine multinational corporations and economic development in Ogoni LGA, Rivers State 2010-2022.


1.3 Objectives of the Study

The primary objective of this study is to examine multinational corporations and economic development in Ogoni LGA, Rivers State 2010-2022. Specifically but not limited to, other objectives of this study are:

  1. Find out whether multinational corporations has generated employment opportunities in Ogoni local government of Rivers State between 2010-2022.
  2. Find out whether multinational corporations has contributed to technological development in Ogoni local government of Rivers State between 2010-2022.
  3. Find out whether multinational corporations has contributed to wealth creation and circulation in Ogoni local government of Rivers State between 2010-2022.
  4. Find out whether multinational corporations has improved infrastructural development in Ogoni local government of Rivers State between 2010-2022.
  5. Find out whether multinational corporations promoted human capital development in Ogoni local government of Rivers State between 2010-2022.

1.4 Research Questions

The following research questions will be answered in this study:

  1. Has multinational corporations generated employment opportunities in Ogoni local government between 2010-2022?
  2. Has multinational corporations contributed to technological development in Ogoni local government between 2010-2022?
  3. Has multinational corporations contributed to wealth creation and circulation in Ogoni local government of Rivers State between 2010-2022?
  4. Has multinational corporations improved infrastructural development in Ogoni local government of Rivers State between 2010-2022?
  5. Has multinational corporations promoted human capital development in Ogoni local government of Rivers State between 2010-2022?

1.5 Research Hypotheses

  • Ho: Multinational corporations do not contribute economic development in Ogoni local government of Rivers State.
  • Ha: Multinational corporations contributes economic development in Ogoni local government of Rivers State.

1.6 Significance of the Study

This research work emphasizes to the government, the role Multinational Corporations (MNCs) play in the economy towards growth and development. It can serve as a go-to source for information where anyone can consult for reference in respect of formulation of policies, evaluation of MNCs in Nigeria and their impacts on socio-economic development. It shall provide an understanding on strategies for promoting these corporations which are useful to all concerned stakeholders. It could serve as a guide for future researchers who are embarking on the same subject matter. Also, it serves as an additional knowledge for students or interested study groups as it creates more awareness on the Multinational corporations, how they affect the economy and vice versa.


1.7 Scope of the Study

This study will focus on assessing multinational corporations and economic development in Ogoni Local Government Area of Rivers State. The Study will cover a period of 13years from 2010 to 2022. The respondents to this study will obtained from residents of Ogoni Local Government Area of Rivers State.


1.8 Limitations of the Study

In the course of carrying out this study, the researcher experienced some constraints, which included time constraints, financial constraints, language barriers, and the attitude of the respondents. However, the researcher were able to manage these just to ensure the success of this study.

Moreover, the case study method utilized in the study posed some challenges to the investigator including the possibility of biases and poor judgment of issues. However, the investigator relied on respect for the general principles of procedures, justice, fairness, objectivity in observation and recording, and weighing of evidence to overcome the challenges.


1.9 Definition of the Terms

Multinational Corporation:

A multinational Corporation is one which is incorporated in one country (called the home country); but whose operations extend beyond the home country and which carries on business in other countries (called the host countries) in addition to the home country.


1.10 Organization of the Studies

The study is categorized into five chapters. The first chapter presents the background of the study, statement of the problem, objective of the study, research questions and hypothesis, the significance of the study, scope/limitations of the study, and definition of terms. The chapter two covers the review of literature with emphasis on conceptual framework, theoretical framework, and empirical review. Likewise, the chapter three which is the research methodology, specifically covers the research design, population of the study, sample size determination, sample size, and selection technique and procedure, research instrument and administration, method of data collection, method of data analysis, validity and reliability of the study, and ethical consideration. The second to last chapter being the chapter four presents the data presentation and analysis, while the last chapter(chapter five) contains the summary, conclusion and recommendation.


Chapter Five


Summary, Conclusions and Recommendations:

5.1 Introduction

This chapter summarizes the findings on multinational corporations and economic development in Ogoni Local Government Area of Rivers State between 2010-2022. The chapter consists of summary of the study, conclusions, and recommendations.


5.2 Summary of the Study

In this study, our focus was to examine multinational corporations and economic development in Ogoni Local Government Area of Rivers State between 2010-2022. The study specifically was aimed to find out whether multinational corporations has generated employment opportunities in Ogoni local government of Rivers State between 2010-2022; find out whether multinational corporations has contributed to technological development in Ogoni local government of Rivers State between 2010-2022; find out whether multinational corporations has contributed to wealth creation and circulation in Ogoni local government of Rivers State between 2010-2022; find out whether multinational corporations has improved infrastructural development in Ogoni local government of Rivers State between 2010-2022; and find out whether multinational corporations promoted human capital development in Ogoni local government of Rivers State between 2010-2022.

The study adopted the survey research design and randomly enrolled participants in the study. A total of 141 responses were validated from the enrolled participants where all respondents are residents in Ogoni Local Government Area of Rivers State.


5.3 Conclusions

Based on the findings of this study, the researcher made the following conclusion.

  1. Multinational corporations generated employment opportunities in Ogoni local government of Rivers State between 2010-2022.
  2. Multinational corporations contributed to technological development in Ogoni local government of Rivers State between 2010-2022.
  3. Multinational corporations contributed to wealth creation and circulation in Ogoni local government of Rivers State between 2010-2022.
  4. Multinational corporations improved infrastructural development in Ogoni local government of Rivers State between 2010-2022.
  5. Multinational corporations promoted human capital development in Ogoni local government of Rivers State between 2010-2022.

5.4 Recommendations

Based on the findings of the study, the following recommendations are proffered.

  1. The government should either convince or mandate multinational firms operating in the nation to boost the share of profits they reinvest in the nation and use to fulfill their social obligations to both their host communities and the nation at large. Additionally, this will avoid any unfavorable effects of those MNCs returning their enormous profits to their home nations.
  2. In the interests of both the business organization itself and society at large, the firm is anticipated to become more socially responsible. To do this and find further chances for cooperation and collaborative efforts, all key parties—companies, social activists, investors, employees, consumers, and the government—should forge long-lasting bonds.
  3. The government must sincerely work to boost labor productivity through trading programs, increase transparency, and enact laws that will direct investment in key industries.
  4. The government should take action, maybe through legislation, to shield local businesses from the unfair rivalry with MNCs that frequently results in their demise. Additionally, Nigerian customers ought to at least support local businesses, if only out of a sense of patriotism, as their goods and services are often just as good as those made abroad.
  5. The responsibility for encouraging joint venture agreements among local businesses should fall to a government agency like the Investment Commission, which should also give them the necessary support to prepare them for collaboration with foreign companies (MNCs).
  6. Civil society organizations should sensitize the public and monitor the MNC‟s activities to ensure acquiescence with the global best practices of socially friendly investment and operations. This will help in minimizing the negative impacts of their operations on environment and ensure cordiality between the MNC‟s and their host communities.

Get Complete Project Material

6,000 Naira

The Complete Material Will Be Sent to You in Just 2 Steps

Quick & Simple…


Step One Purchase

Make Payment (Through Transfer) of ₦6,500 to the Account Below

Zenith BankAcc No: 1225513212
Samphina Academy
Current Account

Or CLICK HERE To Pay With Debit Card


FOR STUDENTS OUTSIDE NIGERIA
CLICK HERE To Purchase Material ($25)

Step Two Purchase

Send the Following Details on WhatsApp ( 08143831497) After Payment

  1. Payment Details

  2. TOPIC: Multinational Corporations And Economic Development In Ogoni Lga’s, Rivers State 2010-2022

The Complete Material Will Be Sent To You On WhatsApp After Receiving Your Details
T & C Apply


  Contact Our Help Desk


Need a Different Topic? Perform a Quick Search



List of Related Works

Click on Any Topic to Preview the Content

samphina.academy

Samphina Academy

Samphina Academy is an Online Educational Resource Center that is aimed at providing students with quality information and materials to aid them in succeeding in their academic pursuit.