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An Assessment On The Impact Of Indutrialization On Economic Growth In Nigeria
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1.3 OBJECTIVES OF THE STUDY
It has been observed that most poorly
industrialized countries of which Nigeria is one, has not realised their
economic development goal even with the existence of manufacturing
industries within the economy.
These are the objectives of the study.
(a) To analyse the performance of industrialization and its effect to Nigerians in economic growth.
(b) To analyse the relationship between industrialization and economic growth.
(c) To determine the contribution of industrialisation to Nigerian economic growth.
(d) To identify the determinants of industrialization in Nigeria.
(e) To make policy recommendations.
1.4 STATEMENT OF HYPOTHESIS
The
study is guided with both null and alternative hypothesis which is
denoted using Ho for null hypothesis and Hi for alternative hypothesis.
Ho- Industrialization has no significant effect on Nigerians economic growth.
Hi- Industrialization has significant effect on economic growth.
1.5 SIGINIFICANCE OF THE STUDY
The
significant of the study lies on the fact that it will expose the
extent to which industrialization has contributed to the economic growth
in Nigeria. It will highlight some obstacles hindering Nigeria from
becoming an industrialized nation.
This work will be relevant to
entrepreneurs and government by directing them on the easiest means of
embarking on an industrial development plan. It will help in
establishing the relevance of industrialization in order to uplift the
economy. This study will reveal that the industrial sector is engine for
economic growth and development.
This work will assist students of
economics, estate management, urban and regional planning etc on how to
get jobs. This means that with the help of established industrial
sector, poverty will reduce and eliminated because people will be
employed and it will increase their standard of living and the economy
to grow.
1.6 SCOPE OF THE STUDY
The research work deals with the
impact of industrialization on economic growth in Nigeria. This research
work covers the period of years (1980-2010) with reference to
limitation in a research project like this.
The data used is a
secondary data which was obtained from the publication of Central Bank
of Nigeria. The analytical tools employed on this research include
t-test and regression analysis.
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