Industrial development, particularly the promotion of manufacturing sectors, has been the basic driving force for a relatively high economic growth of both developed and developing countries of the world. In viewing the contribution of the manufacturing sector to the growth of the gross domestic product of some selected countries (IMF 2001), pointed out that the long term growth rate of the manufacturing value added in china was 10.7% and it increased to 14.7% during the period of 1990-1998. The... read more

Increase in prices of consumable goods and basic necessities of life due to inflation, unemployment, and low GDP creates a pre-recessionary situation which slowly and gradually affects the buying behavior of consumer of every market. Any nation going through the period of recession faces not only an internal resistance from its business sector and but also an external pressure from foreign bodies too. It becomes almost impossible for low income family to fulfill their basic requirements of daily... read more

The present economic recession being experienced in the country today was first experienced in 1974 (Professor Ango Abdullahi, 2016). He stressed that Nigeria was far behind many countries, not only among the developed nations, but even among the African countries. Nigeria began to experience abject poverty since the vision of the founding fathers was neglected by their successors. “Nigeria is one of the poorest countries in the world; Nigerians could not afford to earn N500 in a day. We... read more

The role of financial intermediation has been exemplified in numerous literatures of finance. Besides the performance of specialized tasks, several theoretical models posit that they mitigate the costs associated with information acquisition and the conduct of financial transactions (Benston and Smith, Jr; 1975). In addition to these, several studies have revealed that financial intermediation does more than cost mitigation. It makes provision for insurances and risk sharing, stimulates the fund... read more

The effect of health on worker‘s productivity suggests a relationship between health and aggregate output. Healthy workers lose less time from work due to ill health and are more productive when working. Health gains had the economic consequences of widespread economic growth and an escape of ill-health traps in poverty (World Health Organization, 1999). There has been a growing interest to extend the relationship between health and economic growth, catalyzed in considerable extent by a 1993 W... read more

Undoubtedly, parts of the macroeconomic goals which the government strives to achieve are the maintenance of stable domestic price level and full-employment. Macroeconomic performance is judged by three broad measures- unemployment rate, inflation rate, and the growth rate of output (Ugwuanyi, 2004). Since the advent of economic recession in Nigeria, the economy continues to break records on the downside. Inflation was at 18.63 percent being the highest in 11 years. Foreign reserves currently... read more

Industrial sector plays a crucial role in the development of modern economy the world over. Industrial sector as a sub-sector of the industrial sector refers to the productions of goods and services through combined utilization of raw materials and other production factors such as labor force, land and capital or by means of production process. In advanced economies, the industrial sector is a leading sector in many respects. It is an avenue for increasing productivity related to import replacem... read more

Nigeria industrial sector has been impacted significantly by the wage of oil price volatility. During the period of high oil price in the international market, government increase expenditure in the industrial sector to increase capacity building in the sector and position the sector to provide more job opportunity to the masses. Industrial development has not really been successful in Nigeria. This is because industrial development involves extensive technology-based development of the produ... read more

Arguably telecommunication industry is today the fastest growing industry in Nigeria. The industry has remain a major driver of innovation and transfer of technology to Nigeria economy. The mobile telecommunications industry has grown rapidly over the last three decades representing one of the most intriguing stories of technology diffusion. Since 2002 mobile subscribers have exceeded the number of fixed lines globally. The process to achieve what fixed phones have struggled for more than 120 ye... read more

The role of small scale businesses in the overall growth and development of an economy’s manufacturing sector in particular and the economy in general cannot be over emphasized. Small scale businesses are indeed high potentials for development in terms of employment generation and wealth creation in any economy. Chibuzor (2012) stated that the small scale businesses have in many states enhanced greater employment opportunities, reduced idleness among youths, increased per unit of capital inves... read more

Inflation and unemployment remain burning issues in any economy. All policymakers would, to a large extent wish to have low rates of inflation and unemployment. It is often argued that a single-digit rate of inflation and an unemployment rate of about five per cent would ensure macro-economic stability in an economy all things being equal. Macroeconomic stability is essential for growth, planning and development, hence the desirability of examining the movement of other economic fundamentals if ... read more

Nigeria’s economic aspirations have remained that of altering the structure of production and base and reducing dependence on oil with the aim of putting the economy on a part of sustainable, all-inclusive and non-inflationary growth (Sanusi, 2010). The implication of this is that while rapid growth in output, as measured by the real gross domestic product (GDP), is important, the transformation of the various sectors of the economy is even more critical. This is consistent with the growth ... read more

The stock market is supposed to play an important role in the economy in the sense that it mobilizes domestic resources and channels them to productive investments. However, to perform this role it must have significant relationship with the economy. The development of stock market in Nigeria, as in other developing countries has been induced by the government. Though prior to the establishment of stock market in Nigeria, there existed some less formal market arrangement for the operations of... read more

Most developing nations define industrialization as a central objective of their economic policy they see; industrialization goes with agricultural progress as an integral part of growth and structural change. Some economist and analysts are of the view that industrialization plays a major role in the economic growth and development of any nation. Thus in this research work, effort is made to assess the impact of industrialization on economic growth of Nigeria. Before colonial rule in Nigeria, ... read more

Poverty and unemployment represent the biggest challenges to government in Nigeria. Unemployment rate continue to rise alarmingly, poverty has economic, social and political ramifications. Basically, Poverty has been conceptualized in the following ways; 1. Lack of access to basic needs/goods. 2. Lack of or impaired access to productive resources 3. Lack of job opportunities e.t.c. The level of poverty since the implementation of SAP in the 1980s has tremendously increased [UNDP Nigeria, 199... read more

Poverty and unemployment an identical bane is a global trend which affects people in various depths and levels at different times and phases of existence. The extent of association between poverty and in unemployment in the developing countries is often a subject of considerable debate. There is actually no nation that is absolutely free from poverty and unemployment. The major difference is the degree and pervasiveness of this similar blight. Nigeria is the most populous country in Africa an... read more

Unemployment is generally seen as a macro-economic problem as well as socio-economic problem .Unemployment arises as a result of insufficient and non-availability of jobs to correspond with the growing population, even those who are employed sometimes live with the fear of being unemployed due to job insecurity and retrenchment of workers. There is employment of factors of production if they are engaged in production. The term unemployment could be used in relation to any of the factors of produ... read more

In the developing economies, unemployment has been and still is the countries number one economic problem. This problem has posed a great challenge to many countries [both developed and developing].it has been categorized as one of the serious delay to social progress. Apart from representing a big waste of a countries man power resources it generates welfare losses in terms of low output thereby leading to lower income and economic wellbeing. Unemployment can either be voluntary or involuntary... read more

Unemployment has been one of the most persistent and un-manageable problems facing all industrial countries of the world. It has been noted as a macroeconomic and social problem. In October 1982, the 13th International Conference of Labour Statisticians adopted a new resolution concerning the statistics of the economically active employment and unemployment, they defined unemployment as persons above a specified age who during the reference period were without work including the unemployed grad... read more

Every economy seeks to appropriate industrial base to move the economy from a traditional and low level of production to a more automated and efficient system of mass processing and the manufacturing of goods and services. For this level of development to be attained, there must be a sound financial system which would serve as the back bone of such an economy. If this is pursued, acquiring industrial capabilities would be easily attained since it is considered as the economic development. As a r... read more