Nigeria economy, Industrialization, Economic development, Structural adjustment programme, SAP
The paper examined the imperative for energizing the industrial transformation. Given the foreign uncompetitive and high cost economic environment, the imperative for energizing the industrial transformation in Nigeria, is to create a conducive environment under which there would be free inflow of foreign investible funds. This may not be possible unless the current industrial environment changes to one whose enabling environment encourages industrial policy instruments that make Nigeria a least cost industrial producer. This suggests something drastic must be done policy-wise to modify the existing high bank-lending rate to make it supportive to the industrialization process. Besides, the depreciation of the exchange rate would have to Yield Place to appreciation by not allowing the commercial banks to remain a foreign exchange allocator rather than foreign exchange intermediary.
Ajakaiye, D. Olu and Ayodele, A. Sesan
"The imperative for energizing the industrial transformation in Nigeria.,"
Bullion: Vol. 24
, Article 9.
Available at: https://dc.cbn.gov.ng/bullion/vol24/iss2/9