Looking at Nigeria, globalization can play a major in the privatization role and commercialization of industries which simply mean the transfer of s government ownership to private ownership.Such ownership could be … Some economic analyst are of the view that industries play a vital role in the economic growth and development of any country. The people thus can have more goods and service: leisure and … Industrial development has had an important role in the economic growth of countries like China, the Republic of Korea (Korea), Taiwan Province of China (Taiwan), and Indonesia. 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. Nigerians were among the most active and industrious group of people in Africa. Role of Industrialization on Economic Growth: The Experience of Senegal (1960-2017) ... an important role remains a defining feature of economic development. 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. Does industrialization have any impact on economic growth in Nigeria? The special objectives of this study are as follows: To examine the operations of the capital market. The analytical tools employed on this research include t-test and regression analysis. According to Holis, Bacheney (1999:624) said that industrialization is the main hope of most countries trying to increase their level of income. The need for industrialization has become one of the problems facing Nigeria. Industrialization is regarded as a central object of economic policy in most developing economies. Industrialisation plays a significant role in economic development of any nation. The complete material will be sent to you in just 2 steps. According to Holis, Bacheney (1999:624) said that industrialization is the main hope of most countries trying to increase their level of income. The study is guided with both null and alternative hypothesis which is denoted using Ho for null hypothesis and Hi for alternative hypothesis. 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. It is the aim of samphina.com.ng to only provide guidance by which the paper should be pursued. All these contributed to Nigeria being both technologically backward and industrious. The objective of the research is to appraise the activities of ADB and highlight the efforts that ADB plays in acceleratory the economic development in Nigeria and African in general. This was confirmed by the F-test value (559.02). Some economic analyst are of the view that industries play a vital role in the economic growth and development of any country. Industrialization is regarded as a central object of economic policy in most developing economies. 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. To analyse the performance of industrialization and its effect to Nigerians in economic growth. Ho- Industrialization has no significant effect on Nigerians economic growth. Industrialisation … TIME- Here the researcher was having lectures, preparing for examination, engaging in such activities and domestic works as well. Safety and security remain top priorities and we continue to work closely with communities, civil society, contractors and joint-venture partners, and federal and state government agencies to create a safe operating environment. Also in that early 60’s Nigeria economy was mainly depended on agriculture hence the period of groundnut pyramids, the hides and in North, palm oil and palm kernel in East, and cocoa in the west for … The standard of living of the people in the economy will be improved and economic growth is gingered. The challenges to … This work will assist students of economics, estate management, urban and regional planning etc on how to get jobs. Enterpreneur- A person who organises, operates and assumes the risk for a business venture. The insurance industry, from all indication plays a vital role in Nigeria economic development as well as in the problem of risk management in Nigeria. All these contributed to Nigeria being both technologically backward and industrious. To determine the contribution of industrialisation to Nigerian economic growth. This involves running an open economy relying on a foreign market. Industrialization has since its invention helped the farmer get more work done in less time. 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. Get project topics and ideas with materials, Project and Seminar Material for Economics. 1.0 Introduction Engineering and economic development are like Siamese twins, as the former is the enabler of the latter. Industrial development and economic growth are necessary in any developing country. The analytical tools employed on this research include t-test and regression analysis. To identify the determinants of industrialization in Nigeria. industrialization has a negative impact on economic growth in Nigeria in the long run. Industrialization is the process through which the primary based economy becomes industrialized. Industrialization- This is the process of moving resources into the industrial sector or it is the transformation methods of production involving the use of traditional or modern equipments or mechanized equipments. 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. It took the researcher a lot of time before the harmonization of data used. A person who organises, operates and assumes the risk for a business venture. 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. Samphina Academy is an Online Educational Resources Center that is aimed at providing students with quality information and materials to aid them in succeeding in their academic pursuit. Nigeria is under -industrialized as a result of lip services being paid to technical t-ducation. The attainment of political independence by Nigeria in 1960 made it possible for the 1st national development plan in Nigeria in 1962. As reiterated earlier, there are determinants of economic growth such as real estate development, interest rate, money supply, and inflation but the focus is on real estate development. Other general objectives of the study are: i. 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. Some economic analyst are of the view that industries play a vital role in the economic growth and development of any country. Industrialisation and Urbanisation: Urbanisation succeeds industrialisation. Before colonial rule in Nigeria, there were numerous economic activities undertaken by Nigerians. It will help in establishing the relevance of industrialization in order to uplift the economy. Thus in this research work, effort is made to assess the impact of industrialization on economic growth of Nigeria. This involves running an open economy relying on a foreign market. 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. 1, 24th January 2018 In the wake of the recent economic recession, the first since 1991, Nigeria released a new development plan – Economic Recovery and Growth Plan (ERGP) - that set out specific objectives Some economic analyst are of the view that industries play a vital role in the economic growth and development of any country. Industrialization in Nigeria was aimed at the achievement of import substitution and even export promotion. 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. It took the researcher a lot of time before the harmonization of data used. THE ROLES OF ENGINEERS IN ECONOMIC DEVELOPMENT OF NIGERIA: BY ENGR. To analyse the performance of industrialization and its effect to Nigerians in economic growth. The centrality of industrial advancement in pivoting economic growth and development remains core in developing countries such as Nigeria with large population and labour force. The research work deals with the impact of industrialization on economic growth in Nigeria. In an economy where there is availability of industries, the majority of unemployed people will engaged themselves in productive activities. Does industrialization have any impact on economic growth in Nigeria? The controversial nature of Nigerian data delayed this work. This is refers to the sustained,concerted actions of policy makers and communities that promote the standard of living of the economy.economic development is also defined as the quantitative and qualitative changes in the economy such action like human capital,critical infrastructure and regional competitiveness and so on. Industry- An industry is a group of firms that produce similar product or a group mainly in manufacturing physical services, Export Promotion- This is defined as a strategy for promoting economic development in less developed countries. To examine ways in which industrial sector in Nigeria can be made to play a better role towards high productivity for economic growth of Nigeria… The provision of finance for industries is generally problematic world-wide and is therefore not specific to developing countries like Nigeria. Some economist and analysts are of the view that industrialization plays a major role in the economic growth and development of any nation. In an economy where there is availability of industries, the majority of unemployed people will engaged themselves in productive activities. modern process of industrialization of many countries in recent times. They see industrialization and agriculture as an integral part of development and structural change.  Are you a final year student? This study will reveal that the industrial sector is engine for economic growth and development. AN ASSESSMENT OF THE IMPACT OF INDUSTRIALIZATION ON ECONOMIC GROWTH AND DEVELOPMENT IN NIGERIA (1981 – 2016) ABSTRACT. The objective is to find out whether the role of financial institutions is improving the growth and development of Nigeria economy, to know what the government doing to maintain or encourage the financial institutions in the development of the Nigeria Economy. 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. The study investigated the role of small scale enterprises in the economic development of Nigeria with specific reference to Small scale operators in Ijebu-ode local government area of Ogun state. DATA- the controversial nature of Nigerian data delayed this work. An industry is a group of firms that produce similar product or a group mainly in manufacturing physical services, This is defined as a strategy for promoting economic development in less developed countries. Importance Of Industrialization In Economic Development 2076 Words 9 Pages There is a plenty of research work on the role of industrialization in economic development at the national and international level both in the developed and developing countries. It will highlight some obstacles hindering Nigeria from becoming an industrialized nation. For no reason should you copy word for word (verbatim) as samphina.com.ng will not be liable for any who copied the material. Gross Domestic Product (GDP)- The gross domestic product is the market value of all officially recognised final goods and services produced within a country in a given period of time. Hi- Industrialization has significant effect on economic growth. The standard of living of the people in the economy will be improved and economic growth is gingered. Some economist and analysts are of the view that industrialization plays a major role in the economic growth and development of any nation. The researcher was financially independent as a student and materials needed for this research was not provided. They see industrialization and agriculture as an integral part of development and structural change. no country can develop properly without a sound industrial sector. What is the nature or relationship between economic growth and industrialization? In this research work, effort is made to analyze the impact of the industrial sector to the economic development of Nigeria. This work will assist students of economics, estate management, urban and regional planning etc on how to get jobs. The attainment of political independence by Nigeria in 1960 made it possible for the 1st national development plan in Nigeria in 1962. It will highlight some obstacles hindering Nigeria from becoming an industrialized nation. And in underdeveloped and developing countries, agriculture is also one of the bases of their economic development as it is the occupation of most rural people in the country. 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. A study of this nature cannot be done without some problems and as such it was considered by many factors namely time, finance and data. The economic activities were based mostly on primary production especially on agriculture. Furthermore, the colonial lords at no times endeavoured to industrialize Nigeria, and Nigerians were not motivated to involve themselves in industrial activities. In the cause of the studies there were some factors which limited the scope of the study (a)Availability of research material: The research material available to the researcher is insufficient thereby limiting the study. Industrial development and economic growth are necessary in any developing country. It raises the productive capacity of the people and creates ever-increasing employment opportunities. Some economist and analysts are of the view that industrialization plays a major role in the economic growth and development of any nation. This work will be relevant to entrepreneurs and government by directing them on the easiest means of embarking on an industrial development plan. 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 aim of this paper is to find out if rules and procedures are properly followed in the public sector transactions, to examine if there is adequate internal … To identify the determinants of industrialization in Nigeria. The standard of living of the people in the economy will be improved and economic growth is gingered. When such funds are made available for industrialization and it is not properly utilized, it tends to create problems in the economy. FINANCE- financial inadequacy was the major limitation for this work. The gross domestic product is the market value of all officially recognised final goods and services produced within a country in a given period of time. A study of this nature cannot be done without some problems and as such it was considered by many factors namely time, finance and data. Use it as a guidance purpose only. Not with standing that industrialization can lead to economic development, creation of employment pportunities, increases in productivity, increase in foreign exchange etc. The economy was changed from its agricultural based to a market based for imported manufactured product. 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. Terms of Use | Contact Us, Get project topics and ideas with materials, is a reputable online educational resource centre that is duly registered with the CAC (Corporate Affairs Commission) under the federal law with. A strategy for the industrialization of less developed countries, concentrating initially on replacing imports by domestically produced substitute. The complete material will be sent to you in just 2 steps. The main aim of this plan was for industrialization. The role of real estate valuation cannot be overemphasized. The contents of the papers should be able to help you in generating new ideas and thoughts for your own project. In the 60’s the Nigerian economy depended entirely on agriculture as the main source of foreign exchange earnings, and of employment for the teeming population. Economic Development : This is refers to the sustained,concerted actions of policy makers and communities that promote the standard of living of the economy.economic development is also defined as the quantitative and qualitative changes in the economy such action like human capital,critical infrastructure and regional competitiveness and so on. 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. This can be defined as the increase in the production and consumption of goods and services.It is also the increase in the output that the economy produces over a period of time. This research work covers the period of years (1980-2010) with reference to limitation in a research project like this. To analyse the relationship between industrialization and economic growth. THE ROLE OF CAPITAL MARKET IN INDUSTRIAL GROWTH AND DEVELOPMENT IN NIGERIA. This is the process of moving resources into the industrial sector or it is the transformation methods of production involving the use of traditional or modern equipments or mechanized equipments. The following are some of the roles of industrialization in the economic development of Nigeria KASHIM ABDUL ALI, FNSE, NPOM, mni. Nigeria is a developing country, and the importance of agriculture in the country cannot be undermined because agriculture supplies the basic necessities of human life (food), it also … The scope of the study covers the role of mass media in economic development in Nigeria with emphasis on ESBS. 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. They see industrialization and agriculture as an integral part of development and structural change. Industrialisation acts as a catalyst that accelerates the pace of structural transformation and diversification of economic, enable a country to fully utilize its factor endowment and to depend less on foreign supply of finished goods or raw materials for its economic growth, development and … 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. To evaluate the performance of the capital market in relation to the economic growth in Nigeria. Import Substitution- A strategy for the industrialization of less developed countries, concentrating initially on replacing imports by domestically produced substitute. The aim of providing these materials is to reduce the stress of moving from one school library to another all in the name of searching for research materials. Increase in national income. 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. 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. 1. The Study investigated the role of financial institutions in the development of the Nigeria economy. technical vocational education and training must be given its right of place as no nation can develop without a competent workforce. All the research materials on this website are ONLY for research purposes and should be used as guidelines in developing your research or project works. He receives profit and bears losses. This can be defined as the increase in the production and consumption of goods and services.It is also the increase in the output that the economy produces over a period of time. Industrialization is the process through which the primary based economy becomes industrialized. Some economic analyst are of the view that industries play a vital role in the economic growth and development of any country. They see industrialization and agriculture as an integral part of development and structural change. The Effect Of Illiteracy On Co-Operative Societies In Nigeria (A Case Study Of Selected Cooperative Societies In Mbaitolu L.G.A, Imo State), An Analysis Of The Different Regular Sources Of Cooperative Finance (A Case Study Of Some Selected Cooperative Socieites In Ideator South Local Government Area, Imo State), The Impact Of Deregulation Of The Economy Of Nigerian Commercial Banks. Involve themselves in productive activities word ( verbatim ) as samphina.com.ng will not be.. 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