Nigerias president, muhammadu buhari urged african leaders to adopt practical policies and strategies that will see the region attaining industrialization. Poverty, energy, power sector, industrialization, nigeria. At the time of independence, nigeria had only 5,300 miles of paved roads and. The industrial sector accounts for 6 per cent of economic activity while the manufacturing sector.
Nigerias industrialization strategy aims to achieve greater global competitiveness in the production of processed and manufactured goods by linking industrial activity with primary sector. Industrialisation is solution to mass unemployment 2. This research work deals on the impact of industrialization on nigeria s economic development. Of course, there can also be benefits to industrialization. The data used is a secondary data which was obtained from the publication of central bank of nigeria. Manufacturing transformationcomparative studies of industrial development in africa. In nigeria as in many other developing countries, industries are attached. In spite of these industrialization policies, nigeria is still at the bottom rung of development ladder as the industrial sector which was at a time contributing about per cent to the gdp, and. This is largely due to limited capital and to the lack of an industrial tradition. Uniprojects aim of providing impact of industrialization on nigerias economic development project research material is to reduce the stress of moving from one school library to another all in the name of.
Nigeria should encourage the production of nonprimary export commodities and formulate policies that would attract foreign direct investment. Also in that early 60s nigeria economy was mainly depended on agriculture hence the period of groundnut pyramids, the hides and in north, palm oil and palm kernel in east, and cocoa in the west for the. Review the industrial development policies in nigeria. Ajayi department of geography, university of ibadan, nigeria abstract perhaps one major problem facing nigeria today that has received little or no attention remains her low industrial base.
In nigeria, efforts to industrialize the country began after independence with the first national development plan. Very few nigerian businessmen are willing to launch a manufacturing venture at their own risk. Industrialisation policies in west africa kwabena nyarko otoo imprint published by. Impact of industrialization on economics growth in nigeria chapter one introduction 1. Conceptual clarification industrializationthe process through which a state transits primarily from an agrarian. Industrialisation and economic growth linkedin slideshare. Onyemelukwe 5 notes that nigeria has embraced the factory type industrialization as the main panacea to her underdevelopment. Some economist and analysts are of the view that industrialization pl. The research involves all the activities of phcn as contained in the data available in annual reports and other government agents concerned with data collection like the central bank of nigeria 2011 primary data. Fixing challenges of industrialization, a catalyst for. The data used is a secondary data which was obtained from the. Industrialization, trade globalization, nigeria introduction. Please, sit back and study the below research material carefully. Nigeria industrial revolution plan bank of industry, nigeria.
Nigerias low cost of living may result in continued, comparatively low wages in the event of increased industrialization. Industrialization, exports and the developmental state in. The role of banks in industrial development of nigeria includes abstract and chapter one, complete project material available the role of banks in industrial development of nigeria proposal industrialization is synonymous with the production of goods and services. Industrial development and growth in nigeria brookings institution. The nigeria industrial revolution plan nirp is our national roadmap for real industrialization. Monetary policy and industrialization in an emerging open.
It ultimately offers business leaders an overview of africa s biggest opportunities in the manufacturing sector, discussing trends, drivers, perspectives, and. According to him, africa needs to safeguard the interest of local production in an era of rampant globalisation, reiterating the need for enhanced regional and cross border cooperation. Olorunfemi and dotun, 2008 that were based on spurious regression. The research work deals with the impact of industrialization on economic growth in nigeria. Import substitution industrialization henceforth isi was adopted in nigeria as far as back as 1960 ndebbio, 1994 and persisted till 1985 bushari, 2005. A very important result of our curiositydriven research is that all the industrialized nations of today were agriculturalartisan, nonindustrialized and poor nations for 20003000 years. It is already a living vision, as many elements of its implementation have since commenced. This research work covers the period of years 19802010 with reference to limitation in a research project like this. The coming of europeans, especially in the wake of formal trade contact, brought about the first widely recognized forms of modern industrialization. Looking at nigeria, globalization can play a major in the privatization role and commercialization of industries which simply mean the transfer of s government ownership to private ownership. The task of this paper therefore is to examine the impact of effective and efficient infrastructural facility on nigerias industrial development. Pdf since nigeria became independent in 1960, achieving economic. The thesis of this paper is that industrialization can only be achieved where there is good and functional infrastructure base in the country.
The term industrialization emanated from the industrial revolution of 18th and 19th century in europe. Pdf the quest for nigeria to be an industrialized economy with high sustainable growth rates has been the preoccupation of every administration that. Council of nigeria was created to advise towards africas industrialization. Although industrialization involves activities in craft, mining, processing, and manufacturing, greater emphasis is given to manufacturing for the purpose of this paper. The potential of manufacturing and industrialization in africa. The federal institute of industrial research continued to bear the responsibility for. Pdf post independence nigeria and industrialisation strategies. Nigerian industrial development between 1943 and 20. In spite of the large amount of labor available, nigeria lt greatly handicapped by. Import substitution industrialization as a development strategy, the aim was to reduce thedependence on imported consumer goods and erect employment opportunity for the teaming nigeria work forced, and since then, successive government at different point in time have involved serious.
The economic transformation agenda, otherwise known as nigeria vision. The primary sector, in particular, the oil and gas sector, dominates the gross domestic product accounting for over 95 per cent of export earnings and about 85 per cent of government revenue between 2011 and 2012. The work focused on the impact of industrialization on economic growth. This study examined the impact of industrialization on economic growth in nigeria for the period spanning from 1981 to 2015. Nigeria is now at the midpoint of carrying out its development plan 19621968. This research work deals on the impact of industrialization on nigeri as economic development. An analysis of industrial relations practice in nigeria and ghana similarities and differences in their systems adeniji, moses adenuga abstract this research work compare and contrast industrial relations practice in two west african countries paying a particular. In considering the importance of the manufacturing sector in nigeria, the first.
A case for transformation 1 mwangi wa githinji2 and olugbenga adesida3 abstract. This essay explores the role of the state in promoting exports and industrialization in the quest for transformation of african economies. The bank was created from the merge of national economic. Industrialization a precondition for africas economic transformation 30oct20 africa remains the least diversified region in the world, both in terms of its production and export bases, despite the recent economic progress. A study using data from 19702005 found that inadequate. The nigerian economy simply cannot at present absorb the existing labor supply. This book provides a detailed study of how manufacturing and processing industries have developed in the largest country of west africa. Industrialization, exports and the developmental state in africa.
To solve the financing problems, particularly of small and medium enterprises smes, a number of specialized financial institutions like the nigeria. Nigeria focus turns to manufacturing key to becoming internationally competitive will be to reduce production costs dangote cement present in 14 african countries, it is the largest quoted company in west africa contacts. Unlocking the potential of the power sector for industrialization and. Nigerias approaches and methods of industrialization have been quite different leading to not too impressive results. Otoghile ikponmwosa ebomoyi department of political science, university of benin, nigeria abstract this paper explores the industrial crisis facing nigeria. Pdf nigeria and the challenge of industrial development. The date used is a secondary data, which was obtained from the publication of the central bank of nigeria statistical bulletin and the amial report of accounts. The analytical tools employed on this research include ttest and regression analysis. An analysis of industrial relations practice in nigeria. External debt should be sourced for productive projects only and also as means of maintaining stable exchange rate. Department of economics and statistics faculty of social sciences university of benin benin city industrialization and economic growth in nigeria by oluwarotimi john ogundele march 2010 after presenting a comprehensive analysis of the classical, neoclassical and endogeneous new theories of economic.
The study captures the institutional challenges of nigerias privatization programme. It is designed to accelerate growth in those industries where nigeria has comparative and competitive advantages such as the processing of food and agricultural products, metals. It was established in 1972 through a merger of the electricity. Achieving sustainable growth in industrial production has been a key pillar of nigerias economic reforms.
This revolution saw machines replacing human efforts in the production process. Nigerian industrialist combine to create an acute shortage of equipment and material required for. The scope of the study is on the nigerias privatization programme as pathway to industrialization, with dsc as its case study. Although ideally, government 8 role in economic development should be, for the most part, one of help and encouragement to the private sector of the economy, the great shortage of entrepreneurial skills at all levels. What are the basic problems of industrialization in nigeria.
The only enterprises equipped in organization and finance for these activities were the trading. For the benefit of this work, on industry could be defined as the sum total of firms producing a particular. Challenges and opportunities daibi w dagogo, department of banking and finance, rivers state university of science and technology, nigeria. Problems and prospects of industrialization in nigeria.
In a quest for industrialization in nigeria, different industrial policies have. The study sets three major objectives, which include investigating the effect of fiscal. In fact, large scale manufacturing plants were rare in nigeria until the 1950s. Effect of economic recession on industrialization of oredo local government area of edo state abstract the reason for this research work is to identify the effects of economic recession on industrialization in oredo local government area of edo state. The structure of the nigerian economy is typical of an underdeveloped country. Secondary data was used and sourced from the central bank of nigerias statistical bulletin and was analyzed through the. Immediately after political independence economic, emasculation as well, this prompted the government to adopt. This crisis has been a consistent theme in the underdevelopment challenges confronting the nation. Industrialization a precondition for africas economic. Impact of industrialization on nigerias economic development project material. A mix of companies and experienced zone developers were chosen to develop the. Impact of industrialization on economics growth in nigeria. Three chapters devoted to import substitution examine the interaction of growing consumer demand and the market.
Inability of largescale industrialization policy to propel the growth of the industrial sector in nigeria informed the policy shift to smallscale industrialization policy. Industrial development and growth in nigeria unuwider. Small scale enterprises presently maintain a very strong presence in the economy, playing a leading role. The development technology and industrialization since 1960 in the first half of the 1960s, nigeria continued to build on the foundations of the two previous decades in the areas of industrialization and technological development. The boi formed through the merger of the former nigerian industrial development. The ideology and beliefs of africa were based on the that industrialization would vision transform the african economies from traditional agrarian to progressive and industrialized based economies.
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