Question 5
(a) State two advantages of industrialization in Nigeria.
(b) Explain four problems that retard industrialization in Nigeria.
(c) In four ways, describe how the problems in 5(b) above could be solved.
This was a popular question among the candidates and their performance was good. However, some candidates could not describe how the problem of industrialization could be solved. The ways problem of industrialization could be solved are:
- improvement in power supplies
- loans to investors/low interest rate
- manpower training
- intensive research and development
- improvement in technology/technology transfer
- proper implementation of policies
- improvement in wages/salaries
- production of high value goods
- production of intermediate and capital goods
- development of infrastructure/social amenities
- using locally sourced raw materials
- improvement in quality of outputs
- political stability
- local fabrication of spare parts
- consistency in government policy
- good maintenance culture
- control of inflation
- ban on importation
- improvement in management
- establishment of industrial estates/land use reforms
- improved border control
- granting of tax holiday/incentives to investors
- sensitization on the use of local products
- introduction of entrepreneurship courses.