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REFLECTION ON INDUSTRIALIZATION STRATEGY FOR SUSTAINABLE ECONOMIC DEVELOPMENT IN NIGERIA

Iyanda Kamoru Ahmed, Yusuf Ezekiel, Jibrin Ibrahim Gani

Abstract


This paper discusses Industrialization Strategy for Sustainable Economic Development In Nigeria. The means by which development has been conceptualized determines the message that is passed across. Depending on the situation, development can be seen as a state, a process and a characterization all encapsulated in a word. In the 1950s and 1960s, development was viewed by the United Nations Organization (UNO) as an economic phenomenon in which rapid gains in overall (and per capita Gross National Product-GNP) growth would either 'trickle down' to the masses in the form of jobs and other economic opportunities, or create the necessary conditions for the wider distribution of the economic and social benefits of growth (Denis, 1971). Problems of poverty, unemployment, and income distribution were of secondary importance in 'getting the growth job done'. But when a large number of Third World nations achieved the overall UN growth targets and the levels of living standard of the people remained for the most part unchanged, it was realized that something was very wrong with this narrow concept of development.


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DOI: https://doi.org/10.37628/ijibb.v9i1.858

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