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In lieu of an abstract, here is a brief excerpt of the content: Nigeria and the Challenge of Industrial Development: The New Cluster Strategy Obi Iwuagwu bio Introduction Since Nigeria became independent inachieving economic development through rapid industrialization has remained a major challenge.
It is also not surprising that this has been the principal focus of the various administrations in the country.
Thus, different economic development policies with each having a bearing on the industrial sector were adopted ranging from Import Substitution Strategy ISS through indigenization to the Structural Adjustment Program SAP. Furthermore, the discovery of crude oil, which immediately became the primary export commodity and foreign exchange earner, was to worsen the situation leading to the almost total neglect of industries.
As in the past, the government early in responded by introducing a new industrial development policy, which was based on the Cluster Concept. This is followed by a discussion of [End Page ] the Cluster Concept as implemented by Nigeria and a brief examination of the counterpoint presented by the example of India.
The central argument is that the new policy may still suffer the fate of its predecessors unless immediate steps are taken by governments at various levels to facilitate its implementation.
Similarly, none of them discuss the Cluster Concept introduced inwhich forms the subject matter of the present effort. In the same vein, the relevance of the cluster strategy as an acceptable model of industrialization particularly for developing economies has remained a subject of controversy.
Whereas the inherent advantages of these clusters in most cases makes it attractive to both small and large enterprises, for Head and Ries the real attraction lies in its pull effect, which cities, especially those with good infrastructure and established industrial bases, usually have on industrial agglomerations.
It could also be used to describe the development of economic activity in relatively large units of production, making much use of machinery and other capital assets, with the tasks of If you would like to authenticate using a different subscribed institution that supports Shibboleth authentication or have your own login and password to Project MUSE, click 'Authenticate'.
You are not currently authenticated. View freely available titles:Prospect Of Industrial Development In Nigeria. The prospect of industrial development in Nigeria is looked at in this angle, where there is bound to be reconstruction of efforts, and these efforts are aimed at making Nigeria a united, self-reliant and strong economy.
The Nigeria Industrial Development Bank (NIDB) originally known as ICON; an acryonym for Investment Company of Nigeria was a prominent national development finance institution in Nigeria.
It was originally a privately managed firm involved in development financing in Nigeria and was then the major buyer and seller of stock on the Lagos . Industrial development provides employment, foreign exchange, and domestic earnings. 2 An industrial policy matrix outlining the distinct phases in Nigeria’s industrial evolution is presented in.
Prospect Of Industrial Development In Nigeria. The prospect of industrial development in Nigeria is looked at in this angle, where there is bound to be reconstruction of efforts, and these efforts are aimed at making Nigeria a united, self-reliant and strong economy.
An Act to repeal and re-enact, with major changes, the Industrial Development (Income Tax Relief) Act and to make provision for tax relief for certain industries that may be issued with pioneer certificates by the Minister and other matters ancillary thereto.
INDUSTRIAL DEVELOPMENT IN NIGERIA IN THE CONTEXT OF.
GLOBALIZATION. Abstract. The fundamental issue addressed in this paper is the extent to which Nigeria has. restructured her industrial and trade systems for effective industrialisation within the.