Exploring the Progress of Industrialization in Nigeria, 1960-2014

An Analysis in Trends, Challenges and Prospects.

Abstract

This article reviews the industrialization dynamics in Nigeria, from 1960 to 2014. It describes the different industrialization models with their associated policy priorities, while examining the policy choices and the implementation processes since the 60s. From the literature reviewed, it is observed the adaptation and application of multidimensional policy frameworks that were haphazardly implemented and characterized with intermittent disruptions due to change in government or external factors. It is therefore concluded in this paper, that despite the huge investment and incentives, Nigeria failed to attain industrialization largely due to some inherent systemic gaps, that included lacking consistently, coherency, coordination and institutional weakness in policy formulation and implementation.