AN ASSESSMENT OF THE IMPACTS OF MULTINATIONAL CORPORATIONS ON SOCIO-ECONOMIC DEVELOPMENT : A CASE STUDY OF MTN OPERATIONS IN GOMBE LOCAL GOVERNMENT AREA, GOMBE STATE , NIGERIA

Abstract

The study investigated the impacts of multinational corporations on socio-economic development in Gombe State Nigeria , using MTN operations as a case study. The study was necessitated by the negative impacts of this corporations on our economy which have hindered socio-economic growth.. The objectives were formulated to critically explore the positive and negative impacts of multinational corporations on our economy with a view to suggesting ways of minimizing the negative effects. The Dependency theory was reviewed to lend credence to the ills of these multinational corporations especially MTN in Nigeria. The methods of data collection were through questionnaires, interviews, textbooks, journals, archives among other (Primary and secondary sources of data). The findings revealed that more than half of the respondents (51%) agreed that MTN operations has not brought about socio economic development in Gombe state, while 50% rated their contributions as negative and 60% said that their activities did not improve the socio economic lives of the people of Gombe state. It was concluded that Multinational Corporations like MTN had done more harm than good to the Nigerian economy in terms of profit repatriation and that most of these corporations are imperialist and parasitic in nature. It was recommended that since these businesses are components of the society, they must subject themselves to the fair requirements of the society since they raise huge capital from their operations in the society and that representatives of all stakeholders-employees, customers, society, government should be appointed as members of the Board of Directors of the various corporations.