NGENE, INNOCENT AJA and AGUENE, IGNATIUS N. (2025) INDUSTRIALIZATION AND ECONOMIC GROWTH IN NIGERIA. Global Journal of Applied, Management and Social Sciences (GOJAMSS), 29. ISSN 2276 – 8645
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Abstract
The process of industrialization quickens the rate of structural change and economic diversification, which in turn allows a country to make better use of its natural resources and rely less on imports of finished goods and raw materials. The study design is largely descriptive and analytical with anecdotal evidence gleaned from a qualitative and relevant literature on technology, society and industrialization. Economic progress cannot be achieved without industrialization. It encourages growth in other areas of the economy. The frequency of fluctuations causes harm to machines and other equipment. Consequently, most companies depend on generators to provide their own energy, which drives up production costs and makes them less competitive when compared to rivals throughout the world. Improving the industrial sub-sectors can't start till the policies are correct. To transform these policies from being just theoretical to being applicable and feasible, an active industrial framework supported by strong political will is required. Supporting domestic producers by purchasing goods manufactured in Nigeria is one way to foster an environment that is conducive to economic growth and job creation.
| Item Type: | Article |
|---|---|
| Subjects: | H Social Sciences > HB Economic Theory |
| Divisions: | Faculty of Management and Social Sciences |
| Depositing User: | mrs chioma hannah |
| Date Deposited: | 23 Aug 2025 10:27 |
| Last Modified: | 23 Aug 2025 10:27 |
| URI: | http://eprints.gouni.edu.ng/id/eprint/5167 |
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