The Impact Of Manufacturing Sector On The Nigerian Economic Development

Project and Seminar Material for Economics

The Impact Of Manufacturing Sector On The Nigerian Economic Development


Abstract


This study is on the impact of manufacturing sector on the Nigeria economic development. The total population for the study is 200 students of Nigeria bureau of statistics. The researcher used questionnaires as the instrument for the data collection. Descriptive Survey research design was adopted for this study. A total of 133 respondents made HRMS, economists, data analysts and junior staff were used for the study. The data collected were presented in tables and analyzed using simple percentages and frequencies


Chapter One


Introduction

1.1 Background of the Study

The development of the Nigerian Manufacturing sector has not been fully addressed and the impact has not been fully felt. Manufacturing sector in Nigeria has been experiencing a stunted growth and its, contribution to gross domestic product has remained low. For instance, the manufacturing sector as a whole remains small, according for only 6.6 percent of GDP in 2000 and 12 percent of employment (World Bank, 2002). The production indices (using 1990 as a base year (100) also indicated that while agriculture and services experienced modest growth from 103.5 and 101.5 to 133.6 and 297.0 between 1991 and 1999 respectively, manufacturing sector recorded a decline from 109.4 to 92.3 in the same period. It is also sad to mention that capacity utilization in the manufacturing sector declined from about 70.1% in 1980 to just 44.3 percent in 2002 (CBN 2002).

Moreso, the study attempts to establish an empirical relationship between manufacturing sector and other macroeconomic variables. The manufacturing sector is an integral part of the industrial sector in any economy. The major policies and measures applied to promote the development and the strategies and the policy reforms needed to accelerate the pace of industrialization.

Before independence in 1960, the Nigeria economy was mainly agrarian, both in production for domestic consumption and exports industrialization was not part of the colonial economic policy, which was anchored on making the colonial producers of primary raw materials foreign industries and importers of manufactured goods. Therefore, the task of the first indigenous administration set for itself on attaining political independence was the transformation of the country into a modern industrial economy.


1.2 Statement of the Problem

The early period of post-independence up till mid-1970s saw a rapid growth of industrial capacity and output, as the contribution of the manufacturing sector to GDP rose from 4.8% to 8.2%. This pattern changed when oil suddenly became of strategic importance to the world economy through its supply price nexus.

  1. What is the impact of manufacturing industry on the Nigerian economic development?
  2. What is the impact of monetary policies on the manufacturing industry in Nigeria?
  3. What is the impact of trade policy on the development of manufacturing industries in Nigeria?

1.3 Aim and Objectives of the Study

The aim of this study is to examine the impact of manufacturing sector on the Nigerian economic development. While objectives are:

  1. To show the impact of manufacturing industry on the economic development of Nigerian.
  2. To determine the impact of monetary policies on the manufacturing industry in Nigeria?
  3. To determine the impact of trade policy on the manufacturing industries in Nigeria.

1.4 Statement of Hypothesis

In the course of this study, three main hypotheses are formulated.

Hypothesis One

  • Ho: That there is no relationship between manufacturing industry and the Nigerian economic development.
  • Ha: That there is relationship between manufacturing industry and the Nigerian economic development.

Hypothesis Two

  • Ho: That monetary policy does not have impact of on the manufacturing industry in Nigeria?
  • Ha: That monetary policy has impact of on the manufacturing industry in Nigeria?

1.5 Significance of the Study

  1. It is expected that the findings from this study will expose the impact of the manufacturing sector on the Nigerian economy and how they tend to promote economic growth.
  2. It will also show the trend of the manufacturing sector over the years.
  3. It will also show how export supply capacity has improved and dependence on imports by Nigerians has reduced. It will also serve as a guide to the nation economists and policy makers on how to direct and control the economy in a positive direction.

1.6 Scope and Limitation of the Study

The basis of our research on the impact of the manufacturing sector on the Nigerian economy will be limited to the manufacturing export.

Despite the fact that the research is limited on the scope of the manufactured export of the sector, we are still going to be faced with difficulties like the variation in the data obtained from different officials i.e. political data, conversion of such data into a whole since the data were complied with different base years and irregularities in the process of data collection in the society pose a big problem for the researcher.


1.7 Definition of Terms

Manufacturing Sector:

Modern manufacturing includes all intermediate processes required in the production and integration of a product’s components. Some industries, such as semiconductor and steel manufacturers use the term fabrication instead. The manufacturing sector is closely connected with engineering and industrial design.

Economic Development:

Economic development is the process by which a nation improves the economic, political, and social well-being of its people. The term has been used frequently by economists, politicians, and others in the 20th and 21st centuries. The concept, however, has been in existence in the West for centuries.


1.8 Organization of the Study

This research work is organized in five chapters, for easy understanding, as follows

  • Chapter one is concern with the introduction, which consist of the (overview, of the study), historical background, statement of problem, objectives of the study, research hypotheses, significance of the study, scope and limitation of the study, definition of terms and historical background of the study.
  • Chapter two highlights the theoretical framework on which the study is based, thus the review of related literature.
  • Chapter three deals on the research design and methodology adopted in the study.
  • Chapter four concentrate on the data collection and analysis and presentation of finding.
  • Chapter five gives summary, conclusion, and recommendations made of the study

Chapter Five


Summary, Conclusion and Recommendation

5.1 Introduction

It is important to ascertain that the objective of this study was to ascertain the impact of manufacturing sector on the Nigeria economic development. In the preceding chapter, the relevant data collected for this study were presented, critically analyzed and appropriate interpretation given. In this chapter, certain recommendations made which in the opinion of the researcher will be of benefits in addressing the challenges of manufacturing sector on the Nigeria economic development


5.2 Summary

This study was on the impact of manufacturing sector on the Nigeria economic development. Three objectives were raised which included: To show the impact of manufacturing industry on the economic development of Nigerian, to determine the impact of monetary policies on the manufacturing industry in Nigeria, to determine the impact of trade policy on the manufacturing industries in Nigeria. In line with these objectives, two research hypotheses were formulated and two null hypotheses were posited. The total population for the study is 200 students of Nigeria bureau of statistics. The researcher used questionnaires as the instrument for the data collection. Descriptive Survey research design was adopted for this study. A total of 133 respondents made HRMS, economists, data analysts and junior staff were used for the study. The data collected were presented in tables and analyzed using simple percentages and frequencies


5.3 Conclusion

The result from the empirical investigation revealed that manufacturing output, capital and technology exert tremendous effect on economic growth in Nigeria, both in the short run and long run, while the quality of institutions, labour force and previous year capital do not have any impact on economic growth within the period of the study. For the manufacturing sector output to have a significant positive influence on economic growth, there are certain enabling conditions and policies that must be operational within the economy, these include, availability of capital, technological progress and quality institutions which protect and enforce property rights, contracts and skilled labour force the absence of which will pose a challenge to the effective performance of the manufacturing sector. The results further revealed that increased funding for the training of the labour force on how to produce technological goods via expanding the frontiers of adaptation, invention, discovery, and increasing the accumulation of technology changing skills, will not only allow for increased efficiency in the manufacturing sub sector but will further promote long term economic growth.


5.4 Recommendation

The government should intensify efforts at improving physical infrastructure notably in power supply and make it more accessible to manufacturers to reduce self-supply of electricity which brings huge operating cost. The financial institutions in Nigeria should make effort to invest more in the manufacturing sector so that the manufacturers can have enough funds to invest in modern technologies, and computer-integrated manufacturing system


How To Get The Complete Material For The Impact Of Manufacturing Sector On The Nigerian Economic Development


Project Material Download


The complete material will be sent to your email address after payment
( Quick & Simple)

FOR CLIENTS IN NIGERIA:
CLICK HEREย to make purchase (โ‚ฆ3,000)

FOR CLIENTS OUTSIDE NIGERIA:
CLICK HERE to make purchase ($15)

ย  Contact Our Help Desk


โš ๏ธ Need a different topic? Perform a quick search



Get A Complete Business Plan For Any Business In Nigeria

Business Plan for Businesses in Nigeria

ย  Business Plans in Nigeria


Disclaimer


This research material “The Impact Of Manufacturing Sector On The Nigerian Economic Development” is for research purposes and should be used as a guide in developing your research project / seminar work. For no reason should you copy word for word (verbatim) as samphina.com.ng will not be liable for any who copied the material.

The aim of providing this material is to reduce the stress of moving from one school library to another all in the name of searching for research materials. This service is legal because, all institutions permit their students to read previous projects, books, articles or papers while developing their own works. According to Austin Kleon “All creative work builds on what came before”.

samphina.com.ng is only providing this material “The Impact Of Manufacturing Sector On The Nigerian Economic Development” as a reference for your research. The paper should be used as a guide or framework for your own paper. The contents of this paper should be able to help you in generating new ideas and thoughts for your own research. Use it as a guidance purpose only.

Samphina Academy

Samphina Academy is an Online Educational Resource Center that is aimed at providing students with quality information and materials to aid them in succeeding in their academic pursuit.