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.

Author Bio

The Author is a staff of Nigerian Institute of Social and Economic Research (NISER).

Publication Title

CBN Bullion







To view the content in your browser, please download Adobe Reader or, alternately,
you may Download the file to your hard drive.

NOTE: The latest versions of Adobe Reader do not support viewing PDF files within Firefox on Mac OS and if you are using a modern (Intel) Mac, there is no official plugin for viewing PDF files within the browser window.