Keyword : Manufacturing, development plans, output and diversification
Author(s) : Onyejiuwa, Daniel Chibueze (Ph.D.) And Fagboyo, Rachel Jolayemi
Abstract :
Conscious and concrete efforts have been made by the Nigerian government to develop the manufacturing sector in other to diversify from a mono economy to a more vibrant and multifacet economy. Therefore, this study focused on the impact various National Development plans Nigerian government has initiated and implemented on manufacturing sector development from
1960 to 2017. The study used annual data from Central Bank of Nigeria Statistical Bulletin of various years and adopted the analytical and trend analysis method to examine the impact of various National Development Plans on manufacturing sector development. The results of the study showed that manufacturing sector percentage contribution to real output recorded a low
value below 10% over the years. Also the trend analysis revealed that manufacturing sector increased very marginally over the years. This implies that the sector improvement over the period under review is very low despite the reforms and developmental plans put in place. Therefore, the study recommended that the Nigerian Industrial Revolution Plan (NIRP) projected by Nigerian government to particularly solve the decline of manufacturing sector output share in real output should be judiciously implemented.
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