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The Performance of the Nigerian Manufacturing Sector: A 52-Year Analysis of Growth and Retrogression (1960-2012)

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  • Simbo A Banjoko
  • Iwuji I. I
  • Bagshaw K

Abstract

This paper examines the performance of the Nigerian manufacturing sector since independence in 1960 using such performance indices as percentage contribution to the Gross Domestic Product, index of manufactured products, percentage growth rate, manufacturing value added, employment growth rate, and percentage of capacity utilization within this period. Secondary sources like the Central Bank of Nigeria Statistical Bulletin, Annual Reports and Statements of Accounts as well as the Statistical Facts sheets of the National Bureau of Statistics and other publications were used in collecting the data. The main finding is that despite many policies and developmental initiatives undertaken by successive civilian and military administrations since independence, the Nigerian manufacturing sector has grossly underperformed in relation to its potentials. Daunting challenges facing the sector include unfavourable business environment, erratic power supply, poor and decaying physical infrastructures, multiple taxations, obsolete technology, high interest rates and inconsistency in government policies. The paper concludes by making recommendations for achieving a verile manufacturing sector.

Suggested Citation

  • Simbo A Banjoko & Iwuji I. I & Bagshaw K, 2012. "The Performance of the Nigerian Manufacturing Sector: A 52-Year Analysis of Growth and Retrogression (1960-2012)," Journal of Asian Business Strategy, Asian Economic and Social Society, vol. 2(8), pages 177-191.
    • Handle: RePEc:asi:joabsj:v:2:y:2012:i:8:p:177-191:id:4040
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    Cited by:

    1. Alarudeen Aminu Ph.D & Isiaka Akande Raifu & Bolanle Deborah Oloyede, . "Financial Development and Manufacturing Output Growth Nexus in Nigeria: The Role Of Institutional Quality," Journal of Economic and Sustainable Growth 2, Office Of The Chief Economist, Development Bank of Nigeria.
    2. Xuanlong Qin & Danish Iqbal Godil & Muhammad Kamran Khan & Salman Sarwat & Sadaf Alam & Laeeq Janjua, 2022. "Investigating the effects of COVID-19 and public health expenditure on global supply chain operations: an empirical study," Operations Management Research, Springer, vol. 15(1), pages 195-207, June.
    3. Olusanya, Oluwakorede, 2020. "Asymmetric Effect of Foreign Direct Investment on Manufacturing Sector Performance in Nigeria," MPRA Paper 113029, University Library of Munich, Germany.
    4. Alhaji Jibrilla Aliyu & Shehu Mohammed Tijjani & Caroline Elliott, 2015. "Asymmetric cointegration between exchange rate and trade balance in Nigeria," Cogent Economics & Finance, Taylor & Francis Journals, vol. 3(1), pages 1045213-104, December.
    5. Florence Oluremi Okeowo & Rafiu Adewale Aregbeshola, 2018. "Trade Liberalization and Performance of the Nigerian Textile Industry," Journal of Economics and Behavioral Studies, AMH International, vol. 10(2), pages 33-47.
    6. Evans Mwasiaji, 2020. "Quality Imperative Value Addition and the Performance of Medium Scale Manufacturing Enterprises in Kenya," Journal of Accounting, Business and Finance Research, Scientific Publishing Institute, vol. 8(1), pages 39-46.

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