Nigeria’s Low Industrial Output Stalling Economic Transformation – NESG

Nigeria’s low level of industrial manufacturing is at the core of the slow structural transformation of its economy, with dominance of primary sectors, the

“It is a race to the bottom for our dear nation, where the only assured commonality, in the face of limited industrial manufacturing, is rising poverty, export of jobs, vicissitudes of volatility of commodity prices, and import dependency,” the hard earned foreign exchange is used to support a high propensity for imported goods, machinery, equipment and raw materials, to support industries.

In 2020, the “Vision 2020” was developed and while the objectives were not achieved, the National Development Plan was then developed in 2021 with the same developmental agenda.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

LeadershipNGA /  🏆 4. in NG

Nigeria Latest News, Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

5G is catalyst for industrial transformation in Africa, says MTN Group CEO | TheCableRalph Mupita, chief executive officer and president of MTN Group, says 5G technology is vital in ensuring Africa's economic development and actualising its full potential.
Read more »

BMO lauds Buhari’s ‘Nigeria first’ economic policies | The Guardian Nigeria News - Nigeria and World NewsPresident Muhammadu Buhari deserves commendation for exemplifying the federal government’s commitment to grow our domestic production....
Read more »

How Nigeria can galvanise 1.4bn African population to economic powerhouseWith Nigeria’s vantage place in Africa, it can galvanise the 1.4 billion population as an economic powerhouse to compete with the rest of the world.
Read more »

SON: Standardisation Catalyst for Industrial Growth in Nigeria – THISDAYLIVE
Read more »

Atiku's US trip will help fast-track Nigeria's economic recovery, says PDP campaignThe presidential campaign council of the Peoples Democratic Party (PDP) says Atiku Abubakar’s foreign engagements will benefit the country. The PDP presidential campaign council said this on Sunday in a
Read more »

Abuja Terror Alert: General Haruna reveals only help Haruna needs from US, UKNigeria's former Minister of Information and Culture, Major General Ibrahim Haruna (rtd), has revealed the only help Nigeria needs from the United States
Read more »