Four decades of industrialization in Nigeria: a critical analysis

Abstract

This article is a critical review of industrialization in Nigeria. An in-depth examination of developments in the industrial sector since I960 is carried out. Findings reveal that the industrial sector has witnessed structural changes with the consumer goods sub-sector dominating in line with the paradigm of import substitution. However, persistent under-utilization of installed capacity has remained a striking feature of this sector despite the dramatic shift to export-led industrialization. This is so because there is heavy dependence on imported raw materials for production, as weak linkages exist between industry and agriculture. It is therefore argued that institutional arrangements put in place as well as the various policies directed at industrialization require urgent reappraisal.