Multinational Corporations and the Nigerian Economy.pdfVIP

International Journal of Academic Research in Business and Social Sciences April 2013, Vol. 3, No. 4 ISSN: 2222-6990 Multinational Corporations and the Nigerian Economy Osuagwu, Godwin Onyewuchi Department of Accountancy, Bingham University, Karu, Nasarawa State, Nigeria Email: onyeosuagwu@ Ezie Obumneke Department of Economics, Bingham University, Karu, Nasarawa State, Nigeria Email: eobumneke@ Abstract The paper seeks to examine the activities of Multinational corporations (MNCs) in Nigeria and how it has influenced the Nigerian economy. Specifically, it analyses how MNCs has served as agents of imperialism in any economy where they operate. Most economists believe that the MNCs are exploitative as natural resources found in developing countries such as in Nigeria meant for its development are not productively utilized due to de-capitalization of the economy in form of profit repatriation. It argues however that in spite of the negative activities of MNCs however, they contribute positively in the areas of technological development and creation of employment opportunities. The paper sorts out to examine the nature, objective and operations of MNCs in the Nigerian economy. Keywords: Multinationals, Corporations, Effects Introduction Over the years, Multinational corporations (MNCs) have been a source of controversy ever since the East India Company developed the British taste for tea and a Chinese taste for opium (Stopford, 19