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INDUSTRIALIZATION IN NIGERIA; POLICIES STRATEGIES
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ABSTRACT
Industrialization
in Nigeria has been pursued since the post independent era through a government
policy of import substation, export promotion, and many other complementing
policies, aimed at accelerating the pace of the economic development. Despite
these policies, industrialization is till at rudimentary state in the country.
This is the principals factors that motivation this study. This study examines
and evaluates the industrial environment in Nigeria, its problems and the
various incentives which have been put in place to stimulate the industrial
sector. Existing literature on industrialization were reviewed. Attention was
focused mainly on the objectives, policies, impact and strategies of
industrialization in contemporary Nigeria. The study also attempted to
critically assess the level and nature of industrial development and the basic
constraints and limitations to industrial growth in Nigeria. Finally,
suggestions on how to improve the industrialization in Nigeria we offered. They
include the following; adequate investment in human capital; policy
consistency; provision of adequate infrastructural facilities as well as
promotion of investment culture among Nigerians.
TABLE OF CONTENTS
Title Page i
Certification ii
Dedication iii
Acknowledgement iv
Abstract v
Table of
Contents vi
CHAPTER ONE: INTRODUCTION
1.1 Introduction 1
1.2 Statement of problems 4
1.3 Objectives of study 5
1.4 Research questions 5
1.5 Method of study 6
1.6 Research hypothesis 6
1.7 Significance of study 7
1.8 Organization of the study 7
CHAPTER TWO: LITERATURE REVIEW AND CONCEPTUAL
FRAMEWORK
2.1 Introduction 9
2.2 Policy
objectives of industrialization in Nigeria 11
2.3 Policy
measures of industrialization in Nigeria 12
2.4 The
rational for industrialization in Nigeria 12
2.5 Strategies
of industrialization in Nigeria 15
2.6 Industrialization,
the experience of other nations 17
2.7 Impact
of industrialization in Nigeria 20
2.8 Institutional
formwork 22
2.9 Conceptual
framework 24
CHAPTER
THREE: METHOD OF STUDY
3.1 Introduction 25
3.2 Research
design 25
3.3 Sampling
procedure 25
3.4 Method
of data collection 26
3.5 Data
analysis 26
3.6 Model
specification 26
CHAPTER
FOUR: DATA PRESENTATION AND ANALYSIS
4.1 Introduction 28
4.2 Data
presentation 29
4.3 Regression
analysis and statistical test 32
4.3.1 Model specification 32
4.3.2 Model estimation 33
4.3.3 Evaluation of estimates 35
4.4 Economic
criteria 35
4.5 Statistical
criteria 35
4.6 Presentation
of regression result and result of statistical test
36
CHAPTER FIVE: DISCUSSION OF FINDINGS, SUMMARY
LIMITATION, CONCLUSION AND RECOMMENDATIONS
5.1 Discussion
of findings 39
5.2 Summary 42
5.3 Limitation 44
5.4 Conclusion 45
5.5 Recommendation 47
Appendix 49
References 59
CHAPTER ONE
1.1 INTRODUCTION
Industrialization
could be seen as a process of building up a nation’s capacity to create raw
materials to finished or semi-finished goods. It is seen in the world as one of
the keys to economic growth and development of a nation. However, there is no
precise definition of industrialization.
Industrial
revolution was first experienced in Great Britain at about 1750-1850. This
period of industrial revolution defines a period when machines were invented
and factories set up to facilitate changes in the mode of production and the
general perception of economic growth. But despite the long inception of
industrialization, it is regretting that only about 32 out of more than 153
countries of the world are industrialized.
However,
the path taken by the already industrialized nations varied from one nation to
another. The most obvious and much talk about way to industrialization is that
of capitalist and socialist, though the overwhelming majority is that of
industrialized nations rid so under a capitalist system, but the difference
between these paths has narrowed down in recent time.
Every
nation takes different route towards industrialization because of differential
settings. However, what is universally accepted is that some form of economic
planning is necessary for industrialization to take place, and different
degrees of planning are also recognized.
The
industrial sector has occupied a prominent position in Nigeria’s economic
development programmes and policies since the country attained independent in
1960. The country’s industrial policy has become the dynamic tool for stimulation
and regulating the industrial development process. It details the objectives
and strategies for optimally attaining the goals of non-primary production,
particularly manufacturing, taking into consideration the resource endowment of
the country in terms of laobur, land, capital, entrepreneurship, international
goodwill, etc.
In
1980, the federal ministry of industry articulated the first ever industrial
policy of Nigeria which was updated in 1989. The 1989 edition brought together
various measures adopted under the structural adjustment programme (SAP) which
has impacted positively on industrial development. The 2003 update of the
industrial policy document has therefore addressed very concisely critical
issues of competitiveness, finance, technology advancement, incentives to
industries, research and development, among others.
In
Nigeria, pre-independence era, manufacturing industries did not make any
noticeable impact on the Nigeria economy. The primary reasons for the low
degree of industrialization were not lack of market, raw material or labour,
rather it is due to institutional obstacles inherited in colonial economic
structures were largely determined by trading companies.
The
United Trading company, united African company, lever brothers limited and
other colonial trading enterprises which dominated the Nigeria economy
deliberately suppress industrialization in Nigeria for the primary selfish
motive of protecting their own trading interest, these was as a result of the
support given to them by the British colonial government.
In
Nigeria, industrialization has been pursued since the post-independence era
through different government policies and other incentives aimed at
accelerating the pace of industrial development by means of providing greater
employment opportunities, increasing export of manufactured goods etc.
Although,
all these well meaningful strategies which aims to forge the nation ahead in
the industrial world has some positive achievement, the short coming has been
very enormous. In order to induce greater support for industrial development
objectives and to promote a dynamic efficient and a balance in the
manufacturing sectors, some packages of incentives were put in place by the
government to promote investment, employment, and balance of payment, product
mix and various other aspects of industrialization policies. It is against this
background, that the research work is done with the aim of evaluating the
general industrial environment of Nigeria and to critically appraise the package
available in the industrial sector with a view of identifying the weakness in
the m0odificatino and implementation of the policies so as to update and
improve Nigeria development efforts, in order to ensure that the nation joins
the league of industrialized nation.
1.2 STATEMENT OF PROBLEM
Nigeria
is a country of great potential. For a long time she had discovered
industrialization as one of the essential keys to economic development. Since
Nigeria’s independence in 1960, she had adopted many policies aimed at
accelerating her industrialization process; these strategies include import
substitution and export promotion. In fact, in Nigeria’s development plan, some
of the stated objectives reflects increased export of manufactured goods,
expansion of country’s industrial base, improvement in technological skill,
increase in private participation in manufacturing sector; however, the amazing
fact is that Nigeria has not realized her industrialization dream.
The short coming are mostly due to the
inadequate infrastructural facilities, poor utilization of available resources
and manpower, poor technological based, etc. however, the government had
strived to minimize these problems but her dream to joining the industrialized
nation is still in the shadow. This is what necessitated this research
1.3 OBJECTIVES OF THE STUDY
The
magnitude of the problems of industrialization facing Nigeria as a nation up
till date has been principal factors which has motivate this study. Thus, the
study is aimed specifically at:
i. Identify
the industrial strategies and policies adopted in Nigeria since independence.
ii. Determine
the relationship between industrialization economic growths.
iii. To
determine the constraints of industrialization in Nigeria.
1.4 RESEARCH QUESTIONS
The
basic question in this research shall be:
i. is
there any significance relationship between industrialization and economic
growth.
ii. is
the level of industrialization in Nigeria increasing or decreasing?
iii. are
all the development policy of industrialization in Nigeria effective?
iv. does
the manufacturing sector contribute to industrial development in Nigeria.
v. to
what extent has industrialization impacted on the Nigeria economy.
1.5 METHOD OF THE STUDY
The
study shall review relevant theoretical and empirical works to provide
justification for the study. The quantitative aspect of the study shall embrace
secondary data. The data shall be obtained from the central bank of Nigeria
statistical bulletin.
The
secondary data shall be subjected to simple regression analysis. The GDP at
1984 factor cost shall be the dependent variable while index of industrial
production shall be the independent variable. The period of analysis shall be
1982-2001.
1.6 RESEARCH HYPOTHESIS
The
basic hypothesis shall reflect the research question. Hence:
i=o,
1
H01:
There is no significant relationship between increase in GDP and industrial
output.
H0A:ai=
There is significant relationship between
increase in GDP and industrial output.
1.7 SIGNIFICANCE OF THE STUDY
Industrialization
is one of the keys to a country’s economic growth and development. Since
industrialization is a function of many elements, the study aims to unravel
some of these elements as well as their impact. Specifically, the significance
is:
a. The
research would help to evaluate the impact of policies and strategies adopted
by the country since independence.
b. The
research would also assist in disclosing some of the constraints of
industrialization in Nigeria.
c. The
research would assist the government to fashion effective policies towards
industrialization in Nigeria.
d. The
research would not only be an addition to the existing knowledge but would also
serve as a source of material for the further research.
1.8 ORGANIZATION OF THE STUDY
Chapter
one shall embrace general introduction, research problems, objectives of study,
research question, method of study, research hypothesis, significant of study,
and organization of study.
Chapter
two shall be centered on literature review and conceptual framework. Chapter
three discusses method of study while chapter four shall be devoted to data
presentation and analysis. The research work ends in chapter five with
discussion of findings, summary, limitations, conclusion and recommendations.
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