People do hide under the cover of national interest to project and protect their own individual or group interest. Challenges and opportunities daibi w dagogo, department of banking and finance, rivers state university of science and technology, nigeria. The economy of nigeria is changing, and it is shifting from mainly primary based economy reliant on farming and extractive industries such as oil and gas, to one which making more money or gdp from manufacturing or secondary industries and more services in the tertiary sector. The industrial sector accounts for 6 per cent of economic activity while the. Department of geography, university of ibadan, nigeria. An analysis of industrial relations practice in nigeria and. The industrial sector accounts for 6 per cent of economic activity while the manufacturing sector. Despite these changes nigeria remains a country divided as the. Defined in terms of infrastructure, access to credit, bureaucratic practices and regulatory policy, the business environment in southeast nigeria is stressful, and so has the capacity to limit entrepreneurial activity.
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. Please, sit back and study the below research material carefully. A precondition to the design of such policies is understanding of the multiple roles of housing in economic development, the patterns of demand and supply, and the factors affecting the access of the poor to these services. 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 searching for impact of industrialization on nigerias economic development research materials. The industrial sector accounts for 6 per cent of economic activity, while in 2011, the manufacturing sector contributed only 4 per cent to gdp. Business environment and entrepreneurial activity in nigeria. 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. Industrial development income tax relief act an act to repeal and reenact, with major changes, the industrial development income tax relief act and to make provision for tax relief for certain industries that may be issued with pioneer certificates by the minister and other matters ancillary thereto.
Chapter 1 the industrial revolution he word revolution implies a dramatic change, and is usually used to describe a political event like our rejection of englands rule. Conclusively, industrial development is an important factor used in converting all resources to mankinds use and benefit. The economic transformation agenda, otherwise known as nigeria vision 20. The structure of the nigerian economy is typical of an underdeveloped country. National interest and national development in nigeria. Abstract it is a known fact that industrialization is critical to. Industrial clusters, institutions and poverty eradication in nigeria, columbia university, u. The determinants of output expansion in the nigerian. Pdf nigeria and the challenge of industrial development.
Industrial development and growth in nigeria brookings institution. Nigeria has had a relatively long experience in development planning beginning with the colonial development plan 195868. Results of the nigeria firm survey final versionnovember 2002 jean michel marchat, john nasir, vijaya ramachandran, manju kedia shah, gerald tyler, lan zhao regional program on enterprise development africa private sector group the world bank. In a situation such as this, national interest does have a negative contribution to national development. Department of economics, lagos state university, lagos nigeria e. Nigeria transportation infrastructure report april 20. Poverty reduction strategy paper national economic empowerment and development strategy poverty reduction strategy papers prsps are prepared by member countries in broad consultation with stakeholders and development partners, including the staffs of the world bank and the imf. Nigeria industry growth appeared to gather pace somewhat in the final quarter of 2019, after quickening activity in both the agricultural and industrial sectors propped up a modest expansion in the third quarter. No day passes in nigeria without strikes or threats of strikes in one form or another. Will nigerias new industrial development strategy jumpstart the countrys industrial takeoff.
Housing development in nigeria humanitarian library. Thus, different economic development policies with each having a bearing on the industrial sector were adopted ranging from import substitution. From the inception of the nigerias independence, various governments have been trying a range of approaches. Pdf nigeria offered the continent and blacks everywhere a future that was promissory, resplendent and anchored on a vision of rapid development when. 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. Macroeconomic determinants of industrial development in. Nigeria and the challenge of industrial development project muse. In an industrial revolution there is a dramatic change from a society in which most.
For the benefit of this work, on industry could be defined as. Nigeria and the challenge of industrial development. Postindependence nigeria witnessed national development plans, which provided the conceptual framework for the development objectives, strategies for industrialization, government participation in the process of industrialization, and the fiscal and related policies for influencing industrial development. The main focus of this research work is to examine the influence of multinational companies in the economic development of nigeria. Ols method was adopted and important determinants were detected. Impact of industrialization on nigerias economic development. The role of industrial development centre, osogbo, nigeria article pdf available january 2011 with 9,959 reads. Impact of industrial sector on nigeria economic growth. The industrial sector accounts for 6 per cent of economic activity while the manufacturing sector contributed only 4 per cent to gdp in 2011. Problems and prospects of industrialization in nigeria. Agricultural sector has been a key driver of recent economic growth in nigeria, accounting for 70 percent of gdp of the nonoil sector mang, 2009 and providing subsistence for 23 of nigerians who. Job security is not always guaranteed in construction industry.
The paper also suggested some viable strategies needed to engender sustainable development in. Pdf developing small business entrepreneurs through. From correlation, time series and multivariable regression analyses of. Since nigeria became independent in 1960, achieving economic development through rapid industrialization has remained a major challenge. Poverty reduction strategy paper national economic empowerment and development strategy poverty reduction strategy papers prsps are prepared by member countries in broad consultation with stakeholders and development partners, including the. D department of political science, benue state university, makurdi abstract the paper examines rural or community development in nigeria with emphasis on the institutions, agencies, policies and strategies employed to bring about the much needed. Project muse nigeria and the challenge of industrial. The pre1939 development of trade unionism in west africa was also affected by the greatdepression of 1930 to 1932 which affected all sectors of the british. It was evident at the end of the fourth development decade in.
Industrial development provides employment, foreign exchange, and domestic earnings. Pdf since nigeria became independent in 1960, achieving economic development through rapid industrialization has remained a major. Coren council of regulatory of engineering in nigeria fndp first national development plan fdi foreign direct investment ferma federal road management agency faan federal airport authority of nigeria. Some empirical clarifications by osabuohien, evans s. 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. Taxation and tax policy as government strategy tools for. National development plan of nigeria commonwealth governance. Poverty reduction strategy paper national economic. 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.
Final versionnovember 2002 ii final version november 2002. Understanding development development in human society is a manysided process. As in the past, the government early in 2007 responded by introducing a new industrial development policy, which was based on the cluster concept. The building and construction sector has been relevant in the development of the nigerian economy. Nigeria offered the continent and blacks everywhere a future that was promissory, resplendent and anchored on a vision of rapid development when it achieved its independence in 1960. The primary sector, in particular, the oil and gas sector, dominates the gross domestic product accounting. Understanding nigerian development crisis olanrewaju, john. Still on,,, impact of industrial sector on nigeria economic growth 19812016. Introduction nigeria has recently witnessed a huge increase in the number of industrial actions. It is also not surprising that this has been the principal focus of the various administrations in. A loto department of economics, university of lagos, lagos, nigeria. Financing industrial development in nigeria global journals. The paper also suggested some viable strategies needed to engender sustainable development in nigeria.
An act to repeal and reenact, with major changes, the industrial development income tax relief act and to make provision for tax relief for certain industries that may be issued with pioneer certificates by the minister and other matters ancillary thereto. Impact of industrialization on nigerias economic development project material. Industrial development and growth in nigeria unuwider. The purpose of this study is to examine the human resources development of nigeria as the road map for vision 20. Industrial development and growth in nigeria unuwider united.
Nigerian industrial development between 1943 and 20. Nigeria, however, has failed to make substantial and significant progress and advancement due to weak policies and poor implementation. O ogunleye department of economics, ekiti state university, ekiti state nigeria abstract the study examined manufacturing performance for sustainable economic development in nigeria, while the specific objectives are as follows. Housing is a major component of the building and construction sector. Nigerias industrial revolution plan unveiled businesses will now receive generous tax concessions, cheap funding through long term bank loans and singledigit lending rates from bank of industry, the nations premier development bank. In addition, to investigate the strategies, routes and methods the.
Devastating colonial legacies were inherited by the emerging nigerian elites. The united nations human development index 2014 also ranks nigeria 152 out of 187 countries, which is a significant decrease in its human development ranking of 151 in 2004. Review the industrial development policies in nigeria. Chapter 1 the industrial revolution t uh digital history. Past governments in nigeria, since after independence, have adopted various policies aimed at promoting industrial development in the country.
This stressful business environment, which is a nationwide phenomenon, poses obstacles to nigerias industrial development. Developing small business entrepreneurs through assistance institutions. It examined the problems of national development in nigeria, and carefully outlined the driving forces of development in some of the asia countries as models for nigerias development. The determinants of output expansion in the nigerian manufacturing industries m.
Mediumterm development plans and national rolling plans were also developed and implemented with mixed results. This stressful business environment, which is a nationwide phenomenon, poses obstacles to nigeria s industrial development. An analysis of industrial relations practice in nigeria. Economists observed that the development and utilization of industrial sector is important in a nations economic growth.
This study, the impact of real exchange rate fluctuation on industrial output investigates the effect of misalignment of real exchange rate on the output of the nigeria industrial sector. As noted by kissick et al 2006, housing is a key input in economic, social, and civic development. Problems of construction industry in nigeria from research and experience, the following have been identified as prime factors affecting the construction industry growth in nigeria, namely. Shola department of political science and international relations, landmark university, omuaran, kwara state, nigeria abstract development crisis in nigeria is traceable to the colonial era. A case study of the small and medium enterprises in kwara state akoja roseline ayodeji1 hasret balcioglu2 abstract the study was designed to address the financing of industrial development in nigeria especially on the small and medium enterprises smes subsector in kwara state. National development is a multidimensional process which includes expansion in trade, infrastructures, building a more diversified export economy and development of the rural communities among others all in a bid to lift significant number of the. National interest and national development the term national interest is characterized with inconsistency.
At the level of the individual, it implies increased skill and capacity, greater freedom, creativity, self discipline, responsibility and. The term also can also be used to describe an economic upheaval. The industrialization strategy aims at achieving greater global competitiveness in the production of processed and manufactured goods by linking industrial activity with primary sector activity, domestic and foreign trade, and. Mncs are agent of development in the sense that they constitute the source of capital investment, employment for the people, technological transfer etc. There is the urgent need to put nigeria into a rapid economic growth to achieve its vision 20.
Therefore, given the level of industrial development in the country, this study seeks to analyze the macroeconomic determinants of industrial development in nigeria. There is lack of accurate data of construction industries in nigeria. But, given past experiences, many are not yet convinced that this is the long term solution to nigerias industrial development challenges. But the results so far, are far from expectation, prompting arguments about the desired growth in the industrial sector in particular and the economy in general.
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