Select Currency
Translate this page

THE IMPACT OF INDUSTRIALIZATION ON ECONOMIC GROWTH

Format: MS WORD  |  Chapter: 1-5  |  Pages: 73  |  4697 Users found this project useful  |  Price NGN5,000

  DOWNLOAD THE COMPLETE PROJECT

CHAPTER ONE

INTRODUCTION

1.1 BACKGROUND OF THE STUDY

Most developing nations define industrialization as a central objective of their economic policy they see; industrialization goes with agricultural progress as an integral part of growth and structural change. Some economist and analysts are of the view that industrialization plays a major role in the economic growth and development of any nation.

Thus in this research work, effort is made to assess the impact of industrialization on economic growth of Nigeria. Before colonial rule in Nigeria, there were numerous economic activities undertaken by Nigerians. Nigerians were among the most active and industrious group of people in Africa. The economic activities were based mostly on primary production especially on agriculture. Such activities were engaged in, included farming, hunting and quarrying. The coming of the white men to Nigeria recorded more changes in life style of Nigerians. The economy was changed from its agricultural based to a market based for imported manufactured product.

The colonial masters at the same time took the Nigerian economy as a base for the supply of resources both mineral and agricultural raw materials for industries in their own country. The worst aspect of it was that they exploited these resources at a cheap price, but when their product was brought into Nigeria, the prices were placed so high to exploit the nation.

Furthermore, the colonial lords at no times endeavoured to industrialize Nigeria, and Nigerians were not motivated to involve themselves in industrial activities. All these contributed to Nigeria being both technologically backward and industrious.

The attainment of political independence by Nigeria in 1960 made it possible for the 1st national development plan in Nigeria in 1962. The main aim of this plan was for industrialization. Industrialization in Nigeria was aimed at the achievement of import substitution and even export promotion.

Industrial development and economic growth are necessary in any developing country. In an economy where there is availability of industries, the majority of unemployed people will engaged themselves in productive activities. If industrial development is well encouraged it will be of great help to the developing economy and it will also go a long way in enhancing economic growth.

Industrialization is the process through which the primary based economy becomes industrialized. According to Ojo (1987:256) industrialization could be seen as the process by which the industrial sector of such a country or region increases its share in gross domestic product (GDP), employment, poverty alleviation efforts, investment and so on. From the works of Shaw and Emer(2000:13) industrialization is the process where manufacturing becomes increasingly important in the economic structure of the society.

According to Holis, Bacheney (1999:624) said that industrialization is the main hope of most countries trying to increase their level of income. Industrialization in Nigeria has the idea of transforming the peasant or idle workers of Nigeria into full time or part time industrial workers and on the other hand it will transform the structure of Nigerian economy. The standard of living of the people in the economy will be improved and economic growth is gingered.

1.2 STATEMENT OF PROBLEMS

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 pportunities, increases in productivity, increase in foreign exchange etc.

Insufficient capital is one of the reason Nigerian economy is termed underdeveloped or developing. Huge amount of capital is needed for an industrial development because it is a capital project that needs both labour intensive and capital intensive in abundant. When such funds are made available for industrialization and it is not properly utilized, it tends to create problems in the economy.

Presently in Nigeria, there are sources of finance specified to industrial sector made available by the government but in spite of them many industries have gone into collapsing while a good number are making effort to survive. The provision of finance for industries is generally problematic world-wide and is therefore not specific to developing countries like Nigeria.

The study is therefore necessary to enable a thorough investigation of financial problems of the industrial sector especially that of the manufacturing industries and various government agencies setup to provide credit facilities to the industrial sector to ensure the continual growth of this sector for rapid economic development of this nation. This work intends to find out,

(a)         Does industrialization have any impact on economic growth in Nigeria?

(b)        What is the nature or relationship between economic growth and industrialization?

1.3 OBJECTIVES OF THE STUDY

It has been observed that most poorly industrialized countries of which Nigeria is one, has not realised their economic development goal even with the existence of manufacturing industries within the economy.

These are the objectives of the study.

(a)         To analyse the performance of industrialization and its effect to Nigerians in economic growth.

(b)        To analyse the relationship between industrialization and economic growth.

(c)         To determine the contribution of industrialisation to Nigerian economic growth.

(d)        To identify the determinants of industrialization in Nigeria.

(e)         To make policy recommendations.

1.4        STATEMENT OF HYPOTHESIS

The study is guided with both null and alternative hypothesis which is denoted using Ho for null hypothesis and Hi for alternative hypothesis.

Ho- Industrialization has no significant effect on Nigerianseconomic growth.

Hi- Industrialization has significant effect on economic growth.

1.5 SIGINIFICANCE OF THE STUDY

The significant of the study lies on the fact that it will expose the extent to which industrialization has contributed to the economic growth in Nigeria. It will highlight some obstacles hindering Nigeria from becoming an industrialized nation.

This work will be relevant to entrepreneurs and government by directing them on the easiest means of embarking on an industrial development plan. It will help in establishing the relevance of industrialization in order to uplift the economy. This study will reveal that the industrial sector is engine for economic growth and development.

This work will assist students of economics, estate management, urban and regional planning etc on how to get jobs. This means that with the help of established industrial sector, poverty will reduce and eliminated because people will be employed and it will increase their standard of living and the economy to grow.

  DOWNLOAD THE COMPLETE PROJECT

THE IMPACT OF INDUSTRIALIZATION ON ECONOMIC GROWTH

Not The Topic You Are Looking For?



For Quick Help Chat with Us Now!

+234 813 292 6373

+233 55 397 8005


HOW TO GET THE COMPLETE PROJECT ON THE IMPACT OF INDUSTRIALIZATION ON ECONOMIC GROWTH INSTANTLY

  • Click on the Download Button above.
  • Select any option to get the complete project immediately.
  • Chat with Our Instant Help Desk on +234 813 292 6373 for further assistance.
  • All projects on our website are well researched by professionals with high level of professionalism.

Here's what our amazing customers are saying

Uduak From Uniuyo
IProjectMaster is the best project site for students. Their works are unique and free of plagiarism!
Excellent
Temitayo Ayodele
Obafemi Awolowo University
My friend told me about iprojectmaster website, I doubted her until I saw her download her full project instantly, I tried mine too and got it instantly, right now, am telling everyone in my school about iprojectmaster.com, no one has to suffer any more writing their project. Thank you for making life easy for me and my fellow students... Keep up the good work
Very Good
Samuel From Ajayi Crowther University
You guys just made life easier for students. Thanks alot iprojectmaster.com
Excellent
Peace From Unilag
I cried not knowing how to go about my project but the day i searched online and saw iprojectmaster, i called and got my full project in less than 15minutes, i was shocked!
Excellent
MATTHEW NGBEDE
Ahmadu Bello University
I wish I knew you guys when I wrote my first degree project, it took so much time and effort then. Now, with just a click of a button, I got my complete project in less than 15 minutes. You guys are too amazing!
Excellent
Abubakar Iliyasu Hashim
Federal college of education pankshin affiliated to university of jos
I am highly impressed with your unquantifiable efforts for the leaners, more grace to your elbow.I will inform my colleagues about your website.
Very Good
Merry From BSU
I am now a graduate because of iprojectmaster.com, God Bless you guys for me.
Excellent
Musa From Ahmadu Bello University
Thank you iprojectmaster for saving my life, please keep it up and may God continue to bless you people.
Excellent
Abraham Ogbanje
NATIONAL OPEN UNIVERSITY OF NIGERIA
At first I was afraid.. But I discovered they are legit. I will bring more patronize
Very Good
Abdul Mateen Iddrisu
UDS
At first I taught is a site full of fraudsters until I saw my project in my Gmail after my payment.. THANK YOU IPROJECTMASTER and May God the almighty bless u guys abundantly
Excellent

FREQUENTLY ASKED QUESTIONS

How do I get this complete project on THE IMPACT OF INDUSTRIALIZATION ON ECONOMIC GROWTH?

Simply click on the Download button above and follow the procedure stated.

I have a fresh topic that is not on your website. How do I go about it?

How fast can I get this complete project on THE IMPACT OF INDUSTRIALIZATION ON ECONOMIC GROWTH?

Within 15 minutes if you want this exact project topic without adjustment

Is it a complete research project or just materials?

It is a Complete Research Project i.e Chapters 1-5, Abstract, Table of Contents, Full References, Questionnaires / Secondary Data

What if I want to change the case study for THE IMPACT OF INDUSTRIALIZATION ON ECONOMIC GROWTH, What do i do?

Chat with Our Instant Help Desk Now: +234 813 292 6373 and you will be responded to immediately

How will I get my complete project?

Your Complete Project Material will be sent to your Email Address in Ms Word document format

Can I get my Complete Project through WhatsApp?

Yes! We can send your Complete Research Project to your WhatsApp Number

What if my Project Supervisor made some changes to a topic i picked from your website?

Call Our Instant Help Desk Now: +234 813 292 6373 and you will be responded to immediately

Do you assist students with Assignment and Project Proposal?

Yes! Call Our Instant Help Desk Now: +234 813 292 6373 and you will be responded to immediately

What if i do not have any project topic idea at all?

Smiles! We've Got You Covered. Chat with us on WhatsApp Now to Get Instant Help: +234 813 292 6373

How can i trust this site?

We are well aware of fraudulent activities that have been happening on the internet. It is regrettable, but hopefully declining. However, we wish to reinstate to our esteemed clients that we are genuine and duly registered with the Corporate Affairs Commission as "PRIMEDGE TECHNOLOGY". This site runs on Secure Sockets Layer (SSL), therefore all transactions on this site are HIGHLY secure and safe!