TABLE
OF CONTENTS
CHAPTER
ONE
1.1 BACKGROUND
OF THE STUDY
1.2 STATEMENT
OF THE PROBLEMS
1.3 OBJECTIVES
OF THE STUDY
1.4 RESEARCH
QUESTIONS
1.5 RESEARCH
HYPOTHESIS
1.6 SIGNIFICANCE
OF THE STUDY
1.7 SCOPE/LIMITATION
OF THE STUDY
1.8 DEFINITION
OF TERMS AND ACRONYMS USED IN THE STUDY
CHAPTER TWO
REVIEW OF RELATED LITERATURE
2.1 INTRODUCTION
2.2 PERFORMANCE OF NIGERIAN INDUSTRIAL SECTOR
2.3 THE NIGERIA ECONOMY GROWTH
2.4 CHARACTERISTIC
OF NIGERIA INDUSTRIAL SECTOR
2.5 SITUATION
ANALYSIS OF NIGERIA’S INDUSTRIAL SECTOR
2.6 GOVERNMENT
INCENTIVE/POLICY MEASURES TO THE
INDUSTRIAL SECTOR
2.7 GOVERNMENT
PROGRAMMES AND PROJECTS TO INDICATE
SECTORS
2.8 CONTRIBUTIONS
OF THE INDUSTRIAL SECTOR OF THE
NIGERIA ECONOMY
2.9 ISSUES
AND CHALLENGES IN INDUSTRIAL SECTOR
CHAPTER
THREE
RESEARCH
METHODOLOGY
3.1 INTRODUCTION
3.2 RESEARCH DESIGN
3.3 AREA OF THE STUDY
3.4 THE POPULATION OF THE
STUDY
3.5 SAMPLE SIZE AND
SAMPLING PROCEDURES
3.6 INSTRUMENT FOR DATA COLLECTION
3.7 METHODS OF DATA
ANALYSIS
3.8 ADMINISTRATION OF THE
INSTRUMENT
CHAPTER FOUR
DATA
PRESENTATION, ANALYSIS AND DISCUSSION OF FINDINGS
4.0 INTRODUCTION
4.1 DATA PRESENTATION
4.4.1 RESEARCH QUESTION 1
4.4.2 RESEARCH QUESTION 2
4.3.3 Research question 3
4.4.4 RESEARCH QUESTION 4
4.3 DATA ANALYSIS RESULT
4.3 DISCUSSION OF
FINDINGS
CHAPTER FIVE
SUMMARY,
CONCLUSION, RECOMMENDATIONS AND SUGGESTION FOR
FURTHER
STUDIES
5.1 SUMMARY
5.2 CONCLUSION
5.3 RECOMMENDATIONS
REFERENCES
APPENDIX QUESTIONNAIRE
CHAPTER
ONE
INTRODUCTION
1.1 BACKGROUND OF THE STUDY
The industrial sector means many things to
many people. To some, it constitutes all business that engages in productive
process, while to some others, it is synonymous with the manufacturing sector.
According to Egwaikhide et al (2001), the Nigerian
industrial sector is made up of four main types of industry processing, manufacturing,
craft and mining industries. The bureau of public enterprises (2008) recognized
four industrial sectors considered priority areas of development by the
government of Nigeria because of their linkage effects on the other sub-sector
and potential catalytic roles in the overall growth economically of the industrial
sector.
The need to promote a virile and viable
industrial sector due to its linkage effects has been the desire of governments
worldwide. It is observed that the industrial sector of the Nigeria economy was
relatively insignificant at independences, in terms of contribution to the
Gross Domestic Products (GDP). However,
since independence, Nigeria has made “frantic efforts” to encourage the
development and growth of the sector to increase employment, promote healthy balance
of payment and technological innovations, improve technical skills and
entrepreneurial talents, and promote good and healthy living standard-economic
growths Nigeria is a middle income, mixed economy and emerging market, with
expanding financial, service communications, and entertainment sectors. It
is ranked 2nd largest in terms of GDP within Africa (behind South
Africa). On the track of becoming one of the 20th largest economic
in the world by 2020. Its re-emergent, though currently underperforming,
industrial sector is the third-largest on the continent, and procedures a large
proportion of goods and services for west African region.
Previously hindered by years of
mismanagement, economic reforms of the past years have put Nigeria back on
track towards achieving its full economic potential. Nigerian GDP at purchasing
power parity (PPP) has almost treble from $170 billion in 2008 to $ 451 billion
in 2012, although estimates of the size of the information sector (which is not
included in official figures) put the actual number closer to $630 billion (National
Bureau of Statistic, 2012). Based on the potential roles of the industrial
sector, successive governments in Nigeria have articulated policy measures and
incentives to encourage the development and growth of the sector (Akinlo,
2008). The proposed investment in the sector is US$900billion (CBN Bullion, 2008)
government aims at building a vibrant and growing industrial sector which can
create competitive advantages in the face of rapidly increasing globalization. This
is article for the achievement of the nations vision of growing the GDP from
its current estimated level of US$180b in 2009 to the desired level of
US$900billion in the decade. The implication is the expected significant
increase in the production of quality and high value goods and services. These
will require substantial improvement in performance and competitiveness in the
sector, as well as other sectors of the economy.
According to national planning commission in
2009, the industrial sector has the potential to create wealth and employment,
the sector has stagnated in Nigeria and its contributions to GDP and employment
remain small. The activity mix in the sector is also limited, dominated by
import-dependent processes and factors. Although reliable data are unavailable,
rough indicators shows that capacity utilization in the sector has improved
perceptibly since 2008 but that sector still faces a number of constraints.
Perhaps, the vision for the industrial sector is to establish a technologically
driven and globally competitive industrial sector, with a high level of local
content and contributing more to national GDP. This entails rapid expansion in
the technology base, substantial improvement in the quality of the human capital,
enhanced efficiency and performances among others.
During the plan period-sustained effort were
made to re-invigorate and reposition the sector, to contribute substantially to
the nation’s economic growth. To this effect, five sub-sectors have been
identified as priority areas. These includes: chemicals and pharmaceuticals (including
hydro-carbon based); products basic metals, iron and steel and fabricated
metal, food beverages and tobacco, textiles, wearing apparel and
leather/leather footwear, and non metalloid mineral products. These represent foremost segment of the industrial sector
where Nigerian has or can easily develop comparative advantage. These core area
shave the highest potential to provides raw materials for other key industrials
in the long-term.
In terms of economic growth, it is observed
that the framework and strategies for economic growth in Nigeria for over
decades have been that of alignment and re-alignment, policy inconsistency and
poor implementation, an government must diversify the economy into non-export sector
to abate mono-culturalism. And perhaps, the industrial sector remains private
sector driven. Government should
however, sustain effort to provide the enabling environment that will enhance
the level of operating efficiency, performances and profitability as
articulated in the business environment –sector of this plan.
Meanwhile,. Commerce and industry, Akwa Ibim
State is saddled with the responsibility to develop Akwa Ibom’ industrial
potentials and at the same time attract potential investors. The government has
out in place an industrialization blue print to enable such investors examine
and leverage in ward looking, import substitution, and export-led
industrialization strategies adopted by the state government.
1.2 STATEMENT OF THE PROBLEMS
Government of Akwa Ibom State under the auspices
of ministry of commerce and industry, acting as a catalyst to Nigeria’s industrial
revolution has made sound industrial policies to encourage the development and
growth of the industrial sector. Despite these efforts, the private and public
sectors of the economy, the industrial sector is beclouded with various
problems that have adversely affected the performances of the sector.
No industry can survive without stable
electricity stable electricity supply, but this is a major setback of Nigerian
industrial sector, also the inadequacy of infrastructure in Nigeria is a major
problems to the industrial sector. The roads, railways and public transport systems,
weak technological support and how levels of innovation which lead to production
of low quality products, and an consistency in poly framework among others. These
problems increase the overhead cost, reduce competitive strength and lead to
dwindling capacity utilization. Therefore, there is need to examine the performances
of the industrial sector and also to
identity its economic growth in Nigeria.
1.3 OBJECTIVES OF THE STUDY
The objective of the study is to:
1. Examine
the performances of the industrial sector and economic growth between 2008-2012
2. Find
out the problems associated with the low performances of the industrial sector.
3. Examine
the role of Akwa Ibom state government in revitalizing the industrial base of
the state.
4. Identify
the measures that could be applied in order to strengthening the industrial
sector in Nigeria
1.4 RESEARCH QUESTIONS
a.
Does the industrial sector records any
positive performance within the period of 2008-2012?
b.
What are the problems associated with the low
performance of the industrial sector in Akwa Ibom State
c.
Do Akwa Ibom State government play any role
in revitalizing the industrial sector?
d.
How can industrial sector be improved in Akwa
ibom State?
1.5 RESEARCH HYPOTHESIS
Ho: There
is no significant relationship between industrial sector and the economic
growth of Akwa Ibom State
Hi: There
is significant relationship between industrial sector and the economic growth of
Akwa Ibom State
Ho: There
exist no significant relationship between the performance of industrial sector
and government policy
Hi: There
exist significant relationship between the performance of industrial sector and
government policy.
1.6 SIGNIFICANCE OF THE STUDY
The significant of the study rest on the fact
that the findings will help to provide an appraisal mechanism and a
paradigm-shift for assisting industrialists/investors to perform their present
duties more efficiently, prepare then for changing duties and more pragmatic aspirations
that will enable them to responded to
changes in the internal and external environments. It will make the government
to realize that an industrial sector should be private sector-driven economy,
and government acting as a catalyst to industrial revolution.
The study will also help to fast-track rapid
development of the economy to build human capacity, stimulate employment and
utilize our abundant raw materials for the production of sought after finished
products by using best in class industrials models. Perhaps, the ratio of
performances indicators/measurement will depict industrial standards which are
merely signal for manufacturers and governments to see where it may be facing
problems. The measures may indicates poor performances or reflect the
short-term effect of a change in industrial strategy
Here, it make the stakeholders to change or
adjust a some policies in terms of planning, implementing, controlling and
reviewing/repositioning the status of the sector from its current state to
entirely new position which is believed to be more desirable. Also, the study
will help to reverse the dwindling fortunes of industrial sector, the
government will be committed to remove infrastructure constraints on small and medium
size enterprises, and expedite action on establishing cluster sand industrial
parks. These critical ingredients for increasing the participation of the private sector will be targeted at
growth poles. This research study is aimed at up-dating studies previously
carried out n the topic and to the knowledge of practical sectorial management.
1.7 SCOPE/LIMITATION OF THE STUDY
The study is on the evaluation of the performances
of industrial sector and economic growth in Nigeria between 2008-2015. The
coverage of the study area is ministry of commerce and industry in Idongesit
Nkanga Secretariat –Uyo, Akwa Ibom state.
In the process of carrying out this study, a
number of constraints were met. These range from inadequate financial resources
to move round for data collection, typing and photocopying, inadequate time to
this study. For instance, given the time-line within which to submit this work.
Other limitations were in the process of data collection such as:
-
Contradiction of facts due to lack of
knowledge or good understanding of the questions.
-
Slow response by the respondents, which could
be attributed to lack of interest.
-
Much time wasted going round to convince the respondents
to return the questionnaires
-
Inadequate blue-print on the exact performance
indicators of industrial sector
-
The weather condition sometimes hamper the
movement coupled with the rainy season.
1.8 DEFINITION OF TERMS AND ACRONYMS USED IN THE
STUDY
Industrial
sector: industrial sector is that part of the economy
concerned with producing goods without much direct inputs of natural; resources
(Black, 2002)
Economics
growth: this is a situation where there is a continuous
increase per capital income in a country. It is continuous increase in the
production of goods and services, which either directly or indirectly raises
the average living standard of the people as a whole
Financial
Institution: these are institutional arrangement on
framework that deals with the system of managing money and other liquid assets
(Mbat, 2001)
Monetary
Policy: It refers to the combination of measures
designed to regulate the value supply
and cost of money in on economy in consonance with the level of economic activities
(Nkoro, 2003)
Performances
Evaluation: this provides information on the capacity utilization
of resources in a given sector of the economy (Mullius, 2007)
Framework:
The part of buildings or a object that support its weight and its shape. It is
also a set of beliefs, ideas or rules that is used as the basic for making a judgment
decision (Martins, 2004)
Productivity:
Productivity is measure of efficiency it measures the output of an organization
in relation to its inputs.
NEED:
National Economic Empowerment and Development Strategy GDP: Gross Domestic product
MAN:
Manufactures Association of Nigeria
BPE:
bureau of public Enterprises
PPP: Purchasing Power Parity
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