Dependency Theory and Multinational Corporations in Nigeria

Abstract

Dependency theory reveals and explain the post-colonial forms of dominance among states especially the peripheral formations. The theory place emphasis on the influence of foreign and political influence as factors responsible for underdevelopment crisis in peripheral formations like Nigeria, the theory explained the role of multinational corporations as agents of core and developed countries in exploiting and dominating the peripheral formations. The paper adopted Qualitative method (secondary data) by reviewing available literature, journals, reports etc. Structural theory of imperialism is used to guide the study. The paper discover that multinational corporations (MNCs) engaged in infractions activities such as illegal capital flight, Tax evasion, corruption, among others which negatively effect of development of critical sectors of the economy such as infrastructure, unemployment, insecurity, poverty, low literacy rate etc.