Emergence of Multinational Enterprises and Sustainable Growth: Comparative Analysis in Nigeria
Keywords:
MNCs, Growth, Domestic, Firms, Technology, NigeriaAbstract
This study assesses and reviews how multinational enterprises spurred economic growth, particularly in Nigeria. Multinational Corporations (MNCs) involve having operations in more than one nation, with their head office in their home country. They are subject to changes in international exchange rates, tariffs, duties, and restrictions on trade. The majority of the successful ones target production points where labour is cheaper, with affordable transportation to deliver to their markets. The research used scholarly journals, articles, and textbooks to review the activities of MNCs in Nigeria’s economic development, as it relates to growth, technology transfers and policy issues. Based on the literature, the research discovered that multinational corporations have contributed to Nigeria’s economic growth, which varies. Meanwhile, technology internalisation as well as transfers is still a mirage. Some MNCs still engage in unethical business practices that soil their name and their image of Nigeria. This research study recommends that representatives of all stakeholders-employees, customers, society, and government should be appointed as members of the Board of Directors of various corporations to ensure direct representation as well as participation in the decision-making process. Moreover, a polycentric model of staff selection should be imposed by the government on these MNCs, which will be stated under the terms of the agreement with all the multinational corporations operating within Nigeria. This will improve skill acquisition as well as adequate transfer of technology.
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