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Periodical article Periodical article Leiden University catalogue Leiden University catalogue WorldCat catalogue WorldCat
Title:The quest for economic development through industrialization: a historical review of Nigeria's import substitution strategy
Author:Odejide, Agnes F.
Periodical:The Nigerian Journal of Economic History
Geographic term:Nigeria
Subjects:industrial development
industrial policy
import substitution
Abstract:Although import substitution as an objective of industrialization policy in Nigeria contributed to the growth of local industries, this was not translated into any meaningful linkage effects. The observed growth in the manufacturing industry was mainly concentrated on the production of non-durable consumer goods. Moreover, the output of local industries as a proportion of total domestic supplies was low and the country's annual import bills for many such products continued to rise, while the goal of self-sufficiency remained elusive. The expectations of foreign exchange conservation and generation as well as industrial diversification were not fulfilled. In sum the import substitution industrialization strategy in Nigeria seems to have led to more distortions in the economy. Notes, ref. [ASC Leiden abstract]