Economic Reforms and the Performance of Nigeria’s Manufacturing Sector from (1981-2012)

Abstract

This research examines the effects of economic reforms (NEEDS) on the performance of Nigeria Manufacturing Sector and also determines how the manufacturing sector supports employment generation in Nigeria. In the pursuit of the objective of the study, secondary data was used. Data were sourced from statistical Bulletin Economic and Financial Review, Annual Reports and Statement of Accounts of the Central Bank of Nigeria (CBN) and the Federal Office of Statistic (FOS). Data obtained, were analyzed using an Ordinary Least Square method by the use of time series data. The result shows the unemployment before reform is significantly less than it was during reform. Also poverty rate before reform is significantly less than it was during reform and the study concludes that reform should be timely and effective in addressing the problem of the populace with proper follow-up by the policymakers. Base on the findings, the study recommends amongst others that policy makers should provide infrastructural development to create a conductive environment for the manufacturing sector growth.

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“…For over four decades now, economic indicators of level of industrialization in Nigeria are unimpressive. Nigeria's industrial sector has been characterized by high import content of industrial inputs, dwindling capacity utilization, high cost of production, low value added, declining output growth, low employment generation and inadequate linkages with other sectors of the economy (Felix & Emmanuel 2015).…”

Globalization and the Industrial Sector Performance: The Nigeria Experience

“…For over four decades now, economic indicators of level of industrialization in Nigeria are unimpressive. Nigeria's industrial sector has been characterized by high import content of industrial inputs, dwindling capacity utilization, high cost of production, low value added, declining output growth, low employment generation and inadequate linkages with other sectors of the economy (Felix & Emmanuel 2015).…”