Merits and demerits of commercialization in Nigeria - SS2 Government Lesson Note

· Economic growth: Commercialization can lead to economic growth by creating new jobs, increasing revenue, and generating profits.
· Improved productivity: Commercialization encourages innovation, which can lead to improved productivity and efficiency in businesses.
· Increased competitiveness: Commercialization helps Nigerian businesses to become more competitive by introducing new and innovative products or services in the market.
· Technology transfer: Commercialization can lead to technology transfer as foreign investors or companies bring new technologies into the country, which can help to improve production processes and products.

· Displacement of small businesses: Commercialization can lead to the displacement of small businesses, which may not be able to compete with larger, more established companies.
· Inequality: Commercialization can lead to the concentration of wealth and resources in the hands of a few individuals or corporations, leading to increased inequality in society.
· Environmental degradation: Commercialization can result in environmental degradation as businesses prioritize profits over environmental sustainability.
· Exploitation of labor: Commercialization can lead to the exploitation of labor, as companies may prioritize profits over the welfare and rights of their employees.
· Dependence on foreign investors: Commercialization can lead to dependence on foreign investors or multinational corporations, which may not have the best interests of Nigeria at heart.

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