CRISIS OF INDUSTRIALIZATION IN NIGERIA: ISSUES, CHALLENGES AND POLICY OPTIONS

IGBINEDION SUNDAY OSAHON
Department of Economics and Statistics
University of Benin,
Benin City. PM.B. 1154, Edo State.Nigeria
And
EBOMOYI Ikponmwosa
Department of Political Science
University of Benin,
Benin City, P.M.B. 1154, Edo State. Nigeria

Summary
This paper explores the industrial crisis facing Nigeria. This crisis has been a consistent theme in the underdevelopment challenges confronting the nation. The paper made in-roads into persistent electricity problem and argues that institutional inadequacies and pervasive corruption have colluded to cripple the nation’s attempt at industrialization. It also identified several challenges bedeviling the quest for industrialization. To fix these problems, the paper recommends, amongst others, for strong political
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commitment, increased investment in science and technology, improvement in the infrastructural base and promotion of the private sector as the driver of industrialization.

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Posted in VOLUME 17 NO. 1 APRIL, 2015.

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