No Nation Can Be Fully Developed Without A Viral Manufacturing Sector. What's On Your Mind?

"A Strong Manufacturing sector fuels Economic Growth"

The manufacturing sector has become increasingly important as the engine and driver of economic growth in both developing and developed economies’ relationship between Manufacturing and Economic growth is that Manufacturing output, capital and technology are the major determinants of economic growth. When there’s provision of capital in form of financial resources to fund the manufacturing sector it will greatly improve manufacturing activities in Nigeria.

Nigeria where among scores of natural resources only one crude oil accounts for over 90% of its total export trade, there is no other route to achieving a national sustainable economic growth other than to find the appropriate ways to diversify to export base.

The structure of the Nigerian economy is typical of an underdeveloped country. The primary sector in particular the oil and gas sector, dominates the gross domestic product accounting for over 95% of export earnings, and about 85% of government revenue between 2011 and 2012.The industrial sector accounts for 6%of the economic activity, while the manufacturing sector contributed only 4% to GDP in 2011.The industrialization strategy aims at achieving greater global competitiveness in the production of processed and manufactured goods by linking industrial activity with primary sector activity domestic and foreign trade and service activity.

Comments

  • George Martin Reply

    Would you be interested in submitting a guest post on georgemartjr.com or possibly allowing us to submit a post to manufacturersnigeria.org ? Maybe you know by now that links are essential to building a brand online? If you are interested in submitting a post and obtaining a link to manufacturersnigeria.org , let me know and we will get it published in a speedy manner to our blog. Hope to hear from you soon George.

    Sep 12 2019 03:16:51 AM
  • Ansari Reply

    We at Afro Modern Tech Nigeria limited are committed to support manufacturers in Nigeria by providing sourcing, procurement, and delivery of parts, machineries, plants, spares to our clients across Nigeria. Reach out to us on afrmod@aol.com to avail of our services at a very competitive rate! .

    Mar 01 2019 12:49:05 AM
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    Jan 27 2019 08:34:31 PM
  • Samuel Johnson Reply

    Deep insight!.

    Oct 24 2018 12:00:00 AM
  • David Osaro Reply

    Wonderful!.

    Oct 24 2018 12:00:00 AM
  • Adebayo Reply

    Nigeria needs to grow its manufacturing sector.

    Feb 26 2018 08:07:52 PM

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