Our Blog

List of recently published project topics and materials

PROJECT TOPIC- CONTRIBUTIONS OF INDUSTRIAL SECTOR ON ECONOMIC DEVELOPMENT IN NIGERIA BETWEEN THE PERIODS OF (1981-2014)

PROJECT TOPIC- CONTRIBUTIONS OF INDUSTRIAL SECTOR ON ECONOMIC DEVELOPMENT IN NIGERIA BETWEEN THE PERIODS OF (1981-2014)

CHAPTER ONE
INTRODUCTION

1.1 Background to the Study
Industrialization took place from the 18th to 19th centuries, it was a period during which predominantly agrarian, rural societies in America and Europe became industrial and urban prior to the industrial revolution which began in Britain in the late 1700s manufacturing was often done in people’s homes, using hand tools or basic machines. Industrialization marked a shift to powered special purpose machinery, factories and mass production.

The iron and textile industries along with the development of the steam engine, played central roles in the industrial revolution, which also saw improved systems of transportation, communication and banking, while industrialization brought about an increased volume and variety of manufactured goods and an improved standard of living, it also resulted in often grim employment and living conditions for the poor and working classes (Wikipedia, free encyclopedia).

Industrialization spread from Britain to other European countries including Belgium, France and Germany and to the United States. By the mid 19th century, industrialization was established through the western part of Europe and America’s northeastern region. By the early 20th century the US had become the world’s leading industrial nation (Free encyclopedia).

The oil boom of the 1970s made Nigeria neglected its agricultural and manufacturing sectors in favour of an unhealthy dependence on crude oil. The prolonged economic recession, occasioned by the collapse of the world oil market from the early 1980s and the attendant sharp fall in foreign exchange earnings have adversely affected economic growth and development in Nigeria.

Other problems of the economy include excessive dependence on imports for both consumption and capital goods, dysfunctional social and economic infrastructure and unprecedented fall in capacity utilization rate in industry, among others (Kuet at, 2010; Adesina, 1992). These have resulted in fallen incomes and devalued standards of living amongst Nigerians. Although the structural Adjustment Programme (SAP) was introduced in 1986 to address these problems, no notable improvement took place.

By 2000, Nigeria’s per capita income had plunged to about one quarter of its mid 1970s high below the level at independence. Along with the endemic malaise of Nigeria’s non-oil sector, the economy continuous to witness massive growth of informal sectors economic activities estimated by some to be as high as 75% of the total economy. The period under investigation (1981-2014).

Given the importance of high productivity in boosting economic growth, standard of living of the people and reducing poverty among Nigerians, it is necessary to evaluate the productivity of the Nigeria manufacturing sector (Oguma 1995) says it create investment capital at a faster rate than any other of the economy.

PROJECT TOPIC- CONTRIBUTIONS OF INDUSTRIAL SECTOR ON ECONOMIC DEVELOPMENT IN NIGERIA BETWEEN THE PERIODS OF (1981-2014)

1.2 Statement of the Research Problem
The malfunctioning of industrial sector in a country is widely seen as a major handicap improving a country’s economy and power pushing many governments to encourage or enforce industrialization (Wikipedia free encyclopedia. One of the problems bedeviling the Nigeria economy is the productivity from industrial sector of the economy. Admittedly, the decay in the manufacturing is the result of diverse factors that conspire to render many industries ill such as policy inconsistencies and distractions to the discovery of oil (Adeola 2005).

The near total neglect of agriculture has denied many manufacturers and industries their primary source of raw materials. The absence of locally sourced inputs has resulted in low industrialization. The study is necessary to evaluate the, the productivity of the Nigerian industrial sector. This will be useful in ascertaining the relative efficiency of firms, sub-sectors and sectors. A knowledge of the relative efficiency of industries in relation to the economic growth and development could aid government in planning its programmes and policies, especially in deciding on which industries should be accorded priority.

1.3 Research Question(s)
In the light of this exposition, the research work is guided by the following question(s)
(1) What are the contributions of industrial sector productivity on the economic growth and development of Nigeria?
(2) Does there exist any long-run relationship between industrial output and economic growth?
(3) Is there any causal relationship between industrial productivity and economic growth?

1.4 Objectives of the Study
The broad objective of this study is to examine critically, the contributions of industrial sector on economic development in Nigeria between the periods of (1981-2014). The specific objectives of the study include(s)
1. To find out the impact of industrial sector output on economic growth in Nigeria.
2. To determine whether there is long-run relationship between industrial sector output and economic growth in Nigeria.
3. To establish if there is causal relationship between industrial output and economic growth in Nigeria.

1.5 Statement of Research Hypothesis(es)
The hypothesis tested in the course of the analysis is stated below:

Ho: Industrial sector productivity does not have significant impact on the economic growth in Nigeria.
Ho: There is no long-run relationship between industrial sector output and economic growth in Nigeria.
Ho: There is no significant causal relationship between industrial output and economic growth in Nigeria.

1.6 Significant of the Study
This study on the contributions of industrial sector productivity on economic growth and development of Nigeria is significant in the following ways.
i. The research report will expose the extent of which industrial output has contributed to economic growth in Nigeria thereby highlighting some obstacles hindering increase in industrial output.
ii. It will influence various economic units both in the public and private sectors of the Nigeria economy.
iii. It will be beneficial to policy makers in taken decision on how to improve industrial sector output in Nigeria
Finally, it will add to the already existing body of interactive.

1.7 Scope and limitation of the Study
This study evaluates the role of the Nigerian industrial sector in relation of the economy. The study covers a general contribution of manufacturing industries in Nigeria towards the attainment of economic growth from (1981 –2014). Given the importance of productivity in boosting economic growth, standard of living of the people and poverty reduction, it is necessary to evaluate the productivity of Nigerian manufacturing sector (Oguma 1995) says it create investment capital at a faster rate than any other of the economy. Available evidence showed that the share of manufacturing value in the Gross Domestic Product (GDP) was 3.2% in 1960. In 1981 its share of GDP increased to 10%, in 1990 fell to 5%, in 2008 its share of GDP was 2%, in 2010 its share of GDP was 7% in 2014 it increased to 10% (CBN statistical Bulletin, National Bureau of Statistics). The period under investigation (1981 – 2014) showed that there was a notable improvement of manufacturing values in the Gross Domestic Product (GDP) but still does not affect the standard of living of the people and high rate of poverty.
A study of this nature cannot be researched without encountering constraints, some of which include;
(1) Finance: Financial constraint or inadequacy was the major limitation for this research to gather materials logistics etc.
(2) Data: There was a problem of acquiring all necessary data though the researcher has to rely on the once available.

PROJECT TOPIC- CONTRIBUTIONS OF INDUSTRIAL SECTOR ON ECONOMIC DEVELOPMENT IN NIGERIA BETWEEN THE PERIODS OF (1981-2014)

TO GET THE FULL PROJECT TOPIC AND MATERIAL DELIVERED TO YOUR INBOX OR DOWNLOAD INSTANTLY, PAY N5000 Via: BANK
BANKACCOUNT NAME
ACCOUNT NUMBER
DIAMOND BANK
FREEMANBIZ COMMUNICATION
007 031 2905
FIDELITY BANK
FREEMANBIZ COMMUNICATION
560 028 4107
GTBFREEMANBIZ COMMUNICATION013 772 5121
ZENITH BANK
FREEMANBIZ COMMUNICATION
101 326 3297
OR Pay Online with ATMAfter Payment, you can use the chat app at the right-hand side of your browser to download the material immediately or Text Name, Title of the project paid for, your email address to 08060755653.Do you prefer paying with Bitcoin? Bitcoin Payment for material purchase

Was the material helpful? Comment below. Need the material? Call 08060755653.