AN ASSESSMENT ON THE IMPACT OF INDUSTRIALIZATION ON ECONOMIC GROWTH IN NIGERIA
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ABSTRACT
The need for industrialization has become one of the problems facing Nigeria. Not with standing that industrialization can lead to economic development, creation of employment opportunities, increases in productivity, increase in foreign exchange etc.
Huge amount of capital is needed for an industrial development as it is a capital project that needs both labour intensive and capital intensive in abundant. In this project we assess the impact of industrialization on the economic growth of Nigeria.
Findings from this study revealed that industrialization has positive impact on GDP which is contrary to opinion of other empirical literatures in the study. It is therefore recommended that there is a need for reviving the key industries in the nation that have been abandoned for long and also a proper allocation and management of existing industries so as to ensure proper and positive linkage effects on the economy.
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