- The Complete Research Material is averagely 55 pages long and it is in Ms Word Format, it has 1-5 Chapters.
- Major Attributes are Abstract, All Chapters, Figures, Appendix, References.
- Study Level: BTech, BSc, BEng, BA, HND, ND or NCE.
- Full Access Fee: ₦6,000
Get the complete project »
![Delivery in 48Hrs Delivery Within 34-48hrs](https://codemint.net/assets/home/48hMain.png)
ABSTRACT
This research work examines
econometrically the impact of manufacturing sector on economic growth in
Nigeria, from 1981 to 2010. It assesses the effect of manufacturing
output (mangdp), investment (inv), government expenditure (govexp) and
money supply (m2) on log of real gross domestic product (lrgdp).
Appropriate multiple regression model is specified with parameters,
which are estimated using the ordinary least square (OLS) technique.
Test of hypothesis is carried out and the result shows a positive and
significant relationship between manufacturing output and economic
growth in Nigeria within the period under investigation. Among other
recommendations the study opines that manufacturing outfits should be
encouraged by the government through policy packages such as tax holiday
and other helpful concessions in order to enhance manufacturing output
in the country
CHAPTER ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
Prolonged
economic recession occasioned by the collapse of the world oil market
from the early 1980s and the attendant sharp fall in foreign exchange
earnings have adversely affected economic growth and development in
Nigeria. Other problems of the economy include excessive dependence on
imports for both consumption and capital goods, dysfunctional social and
economic infrastructure, unprecedented fall in capacity utilization
rate in industry and neglect of the agricultural sector, among others
(Ku et al, 2010; Adesina, 1992). These have resulted in fallen incomes
and devalued standards of living amongst Nigerians.
Although the
structural adjustment programme (SAP) was introduced in 1986 to address
these problems, no notable improvement took place. From a middle income
nation in the 1970s and early 1980s, Nigeria is today among the 30
poorest nations in the world. Putting the country back on the path of
recovery and growth will require urgently rebuilding deteriorated
infrastructure and making more goods and services available to the
citizenry at affordable prices. This would imply a quantum leap in
output of goods and services.
The path to economic recovery and
growth may require increasing production inputs – land, labour, capital
and technology – and or increasing their productivity (Kayode and
Teriba, 1977). Increasing productivity should be the focus because many
other countries that have found themselves in the same predicaments have
resolved them through productivity enhancement schemes. For instance,
Japan from the end of the World War II and the United States of America
from the 1970s have made high productivity the centre point of their
economic planning and the results have been resounding. Also, middle
income countries like Hong Kong, South Korea, Singapore and India have
embraced boosting productivity schemes as an integral part of their
national planning and today they have made significant in-roads into the
world industrial markets.
Given the importance of high productivity
in boosting economic growth and the standards of living of the people,
it is necessary to evaluate the productivity of the Nigerian
manufacturing sector. This will be useful in ascertaining the relative
efficiency of firms, sub-sectors and sectors. A knowledge of the
relative efficiency of industries in relation to economic growth and
development could aid government in planning its programmes and
policies, especially in deciding on which industries should be accorded
priority. In the light of the foregoing, there cannot be a more
appropriate time to evaluate the role of the Nigerian manufacturing
sector in the economic growth and the development of the country than
now.
1.2 STATEMENT OF THE PROBLEM
The history of
industrial development and manufacturing in Nigeria is a classic
illustration of how a nation could neglect a vital sector through policy
inconsistencies and distractions attributable to the discovery of oil
(Adeola, 2005). The near total neglect of agriculture has denied many
manufacturers and industries their primary source of raw materials. The
absence of locally sourced inputs has resulted in low industrialization.
Some of the constraints faced in this sector include:
• High interest rates
• Unpredictable government policies
• Non-implementation of existing policies
• Lack of effective regulatory agencies
• Infrastructural inadequacies
• Dumping of cheap products
• Unfair tariff regime
• Low patronage
It
is in the light of the foregoing that this study seeks to evaluate the
role of the manufacturing sector in the Nigerian economy.
1.3 OBJECTIVES OF THE STUDY
The broad objective of this study is to appraise critically, the role of the manufacturing sector in Nigerian economy.
The specific objectives of the study include:
1. to investigate the impact of the manufacturing sector on the economic growth and development of Nigeria.
2. to assess the level of productivity in the Nigerian manufacturing sector.
3. to identify the major constraints confronting the Nigerian Manufacturing sector.
4.
to find out the various policy measures available to the government
that can be used to redress the persistent decline in the manufacturing
production.
1.4 RESEARCH QUESTIONS
The study would examine the following questions:
1. To what extent has the Nigerian manufacturing sector contributed to the economic growth and development of the country?
2. What has been the performance of the Nigerian manufacturing sector?
3. What are the constraints that are confronting the manufacturing sector?
4. What policy measures could be adopted to redress the persistent decline in the manufacturing production?
1.5 STATEMENT OF RESEARCH HYPOTHESIS
The hypothesis tested in the course of the analysis is stated below:
H0: that the manufacturing sector does not contribute significantly
to Nigerian economy.
H1: that the manufacturing sector contributes significantly to
Nigerian economy.
1.6 SIGNIFICANCE OF THE STUDY
This study on the impact of manufacturing sector on economic growth in Nigeria is significant in the following ways:
i. It will influence various economic units both in the public and private sectors of the Nigerian economy;
ii.
The research report will be a veritable source of information to
various categories of students as well as researchers wishing to conduct
further research in this area;
iii. It will be relevant topolicy
makers especially when making policy decisions on the choice of policy
that will suit the Nigerian manufacturing sector.
Finally, the study will be useful to institutions outside the ones mentioned above.
1.7 SCOPE OF THE STUDY
This study evaluates the
role of the Nigerian manufacturing sector in relation to the growth of
the economy. The major constraints that confront the sector would be
identified in the course of examining the overall development in the
sector since the adoption of SAP.
The analysis of the contribution of
the manufacturing sector to the economic growth of Nigeria shall be
restricted to the period from 1981 to 2010 using only relevant
performance indicators such as index of manufacturing, sector’s
contribution to the Gross Domestic Product (GDP) and other control
variables.
Most of the information and data needed for the study
would be gathered from existing literature and from relevant government
agencies such as the Central Bank of Nigeria, National Bureau of
Statistics (NBS), Manufacturing
Association of Nigeria (MAN) as well
as international organizations such as United Nations Industrial
Development Organization (UNIDO).
1.8 DEFINITION OF TERMS
(i) Productivity: It has
been defined by Economists as the ratio of output to input in a given
period of time. In other words, it is the amount of
output produced by each unit of input.
(ii)
Economic Development: This is the ability of a nation to expand its
output at a rate faster than the growth rate of its population. Economic
development viewed in this way has to do with growth of per capita GNP
which will also determine the standard of living of the people.
(iii)
Trade Liberalisation: This is the elimination of non-tariff barriers to
imports, the rationalisation and reduction of tariffs, the institution
of market determined exchange rates and the removal of fiscal
disincentives and regulatory deterrents to exports.
(iv) Industrial
policy: This is a systematic government involvement, through
specifically designed policies in industrial affairs, arising from the
inadequacy of macroeconomic policies in regulating the growth of
industry.
(v) Economic liberalization: This is a replacement of a
state-led economy to private sector dominated economy. It focuses on
privatization, deregulation of
foreign investments, trade liberalisation, deregulation of credit policy and the introduction of the Foreign Exchange Market.
You either get what you want or your money back. T&C Apply
![](https://codemint.net/assets/public/img/100-money-back-guarantee.png)
You can find more project topics easily, just search
-
SIMILAR ECONOMICS FINAL YEAR PROJECT RESEARCH TOPICS
-
1. AN ECONOMETRIC ANALYSIS OF THE IMPACT OF FINANCIAL DEEPENING ON AGGREGATE WELFARE IN NIGERIA
» 7 CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY: In recent years, many studies have examined the link between financial deepening and economic ...Continue Reading »Item Type & Format: Project Material - Ms Word | 62 pages |
Instant Download | Chapter 1-5 | ECONOMICS DEPARTMENT
-
2. EFFECT OF INFANT AND MATERNAL MORTALITY ON THE NIGERIA ECONOMY
» CHAPTER ONE: INTRODUCTION 1.1 BACKGROUND TO THE STUDY Infant and child mortality are commonly on top of the agenda of Public health and International ...Continue Reading »Item Type & Format: Project Material - Ms Word | 52 pages |
Instant Download | Chapter 1-5 | ECONOMICS DEPARTMENT
-
3. GLOBALIZATION AND ECONOMIC DEVELOPMENT IN NIGERIA: AN ASSESSMENT
» CHAPTER ONE INTRODUCTION BACKGROUND TO THE STUDY A brief look at Nigeria today one can find out that we like fashion and everything new in Nigeria, th...Continue Reading »Item Type & Format: Project Material - Ms Word | 77 pages |
Instant Download | Chapter 1-5 | ECONOMICS DEPARTMENT
-
4. EFFECT OF FUEL SUBSIDY ON THE ECONOMY OF NIGERIA
» ABSTRACT The study examines effects of fuel subsidy on the economy of Nigeria. The objectives of this study are: to examine the effect of fuel subsidy...Continue Reading »Item Type & Format: Project Material - Ms Word | 52 pages |
Instant Download | Chapter 1-5 | ECONOMICS DEPARTMENT
-
5. The Determinants Of Balance Of Payment In Nigeria (1983 – 2007)
» ABSTRACT This study aimed at analyzing through econometric methodology the Determinant of Balance of payment in Nigeria. In the work, we capture balan...Continue Reading »Item Type & Format: Project Material - Ms Word | 51 pages |
Instant Download | Chapter 1-5 | ECONOMICS DEPARTMENT
-
6. SOCIO-ECONOMIC DIMENSIONS AND CREDIT SUPPLY TO POULTRY FARMERS IN ODEDA LOCAL GOVERNMENT AREA OF OGUN STATE NIGERIA
» ABSTRACT The Agricultural sector in Nigeria has remained one of the largest contributors to the gross domestic product of the nation’s economy contr...Continue Reading »Item Type & Format: Project Material - Ms Word | 78 pages |
Instant Download | Chapter 1-5 | ECONOMICS DEPARTMENT
-
7. EFFECT OF RECAPITALIZATION OF BANKS ON NIGERIAN ECONOMY
» ABSTRACTThe global phenomenon in the financial service industry is the consolidation of the financial activities towards ensuring financial stability....Continue Reading »Item Type & Format: Project Material - Ms Word | 50 pages |
Instant Download | Chapter 1-5 | ECONOMICS DEPARTMENT
-
8. THE IMPACT OF INTEREST RATE LIBERALIZATION ON INVESTMENT IN NIGERIA
» ABSTRACT The importance of investment in economic growth cannot be overemphasized. This has led to an upsurge in the study of its determinants. This r...Continue Reading »Item Type & Format: Project Material - Ms Word | 55 pages |
Instant Download | Chapter 1-5 | ECONOMICS DEPARTMENT
-
9. THE IMPACT OF GOVERNMENT FUNDING ON AGRICULTURAL OUTPUT AND ECONOMIC GROWTH IN NIGERIA
» ABSTRACT The impact of public expenditure on agriculture in Nigeria is enormous. Government having recognized agriculture as the second highest sector...Continue Reading »Item Type & Format: Project Material - Ms Word | 59 pages |
Instant Download | Chapter 1-5 | ECONOMICS DEPARTMENT
-
10. EFFECT OF NIGERIA MACRO ECONOMY ON SHARE PRICE VALUE DETERMINATION
» CHAPTER ONE INTRODUCTION 1.1 BACKGROUND OF THE STUDY Stock market reacts in response of various factors ranging from macro economic, political and soc...Continue Reading »Item Type & Format: Project Material - Ms Word | 49 pages |
Instant Download | Chapter 1-5 | ECONOMICS DEPARTMENT