Nigeria Industrial Policies and Industrial Sector Performance: Analytical Exploration

Abstract

In a quest for industrialization in Nigeria, different industrial policies ha ve been implemented. This study explores the industrial policies and the performance of industrial sector. The findings of the study show that the policies, identified as ISI, EPI and FPII, have not helped Nigeria to attain the required level of industrialization that can produce dynamic change in the economic structure of the country and the performance of industrial sector especially manufacturing had been below expectation. The policies have a common feature of foreign inputs reliance which makes their successful implementation in Nigeria very costly. Based on the above, the prospects for Nigeria's industrialization are discussed. Among the recommendations are proper conception and implementation of industrial policy, human capital development especially sciences and technical education for skill development, acquisition of relevant technology in the world, massive public investment in the provision of roads, rail system and electricity, and completion or rehabilitation of industrial core projects especially iron and steel projects.