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Industrial Development and Growth in Nigeria: Lessons and Challenges

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  • Louis N. Chete
  • John Olatunji Adeoti
  • Foluso M. Adeyinka
  • Olorunfemi O. Ogundele

Abstract

The structure of the Nigerian economy is typical of an underdeveloped country. The primary sector, in particular, the oil and gas sector, dominates the gross domestic product accounting for over 95 per cent of export earnings and about 85 per cent of government revenue between 2011 and 2012. The industrial sector accounts for 6 per cent of economic activity while the manufacturing sector contributed only 4 per cent to GDP in 2011. The economic transformation agenda, otherwise known as Nigeria Vision 20: 2020, sets the direction for the current industrial policy in Nigeria.

Suggested Citation

  • Louis N. Chete & John Olatunji Adeoti & Foluso M. Adeyinka & Olorunfemi O. Ogundele, 2014. "Industrial Development and Growth in Nigeria: Lessons and Challenges," WIDER Working Paper Series wp-2014-019, World Institute for Development Economic Research (UNU-WIDER).
    • Handle: RePEc:unu:wpaper:wp-2014-019
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    References listed on IDEAS

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