SUSTAINABLE INDUSTRIAL GROWTH AND ECONOMIC DEVELOPMENT IN NIGERIA 1990 -2015

SUSTAINABLE INDUSTRIAL GROWTH AND ECONOMIC DEVELOPMENT IN NIGERIA 1990 -2015 (ECONOMICS PROJECT TOPICS AND MATERIALS)

ABSTRACT

The study was anchored on the general notion that sustainable industrial growth is very vital to economic growth and development. Nigeria has transited from different industrial phases and development stages without meaningful contribution to growth and development in Nigeria. The contributions of the sector, growth and employment is generally very low. It is a fact that the sustainable transformation and industrial growth are inextricably intertwined. Investigations by scholars have shown that very clearly that higher productivity is a sure means boosting sustainable economic growth and raising the standard of living in Nigeria. Formulating effective scheme have undoubtedly many economics to pulled out of global recession and set on course of sustainable growth.  According to statistics recently the industrial sector of the economy which is made of crude petroleum and natural gas, solid minerals and manufacturing, contributed an average of 40% to the national gross and domestic product between 2007 and 2011. Manufacturing which should ordinarily form the birth rock of industrialization contributed less to the while crude oil and gas contributed 95%. The above is a glaring indication that the industrial sector of Nigeria is still in state of gross underdevelopment despite various reforms being implemented by the Federal Government. Although infrastructural problem must be acknowledge as a big challenge to industrial growth I believes there are more critical issues stifling the sustainable growth and development in the industrial sector. However the situational in the industrial sector is not all together gloomy. Specifically, Manufacturers Association of Nigeria (Man) reported that most of the variable that measured performance of the real sector have on the upward swing. Albeit marginal capacity utilization of the sector is now about 49% compared to the 47.5% average in 2011, indicating that more companies in the country are putting more resources to sued in there factoring than they did in previous years. The value of industrial production has also increase, although marginal from N130 billion to almost N350 billion at the end 2012.

SUSTAINABLE INDUSTRIAL GROWTH AND ECONOMIC DEVELOPMENT IN NIGERIA 1990 -2015 (ECONOMICS PROJECT TOPICS AND MATERIALS)