Problems of Industrialisation

Problems of Industrialisation

  • Poor Infrastructural Facilities: The epileptic power supply from the NEPA/PHCN forced industrial establishments to run on private generators, setting a high cost burden on these industries. The transportation system in the country is also not encouraging. The implication of the poor stat of infrastructural facilities is that output is restricted and employment opportunities are constrained.
  • Lack of Technological and Industrial Skills: the industrial sector in Nigeria is still lagging behind in terms of technological advancement. Compounding this is the poor human capital development. These two factors have become challenges to industrialisation in Nigeria.
  • Inadequate Financing: Although there are schemes, institutions, and policies in this direction, their achievement still remains an issue. This is a major problem of industrialisation in Nigeria.
  • Inconsistency in Government Policies: Nigeria, due to her democratic nature of government, has experienced changes in policy orientation over the years. The introduction of a lot of different policies in the different dispensations has posed a great problem on the environment in which manufacturers operate.
  • Underdeveloped Markets: The markets in Nigeria still remain underdeveloped and the implication is that industrial expansion is subjected to demand constraints.

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