Industrial Policies and Industrial Sector Performance in Nigeria | Asian Journal of Economics, Finan

The numerous industrial strategies implemented in Nigeria in her quest for industrialization were examined in this research. Export promotion, import substitution, and foreign direct investment industrialization policies are among the numerous policies. Given the various development plans in existence, these policies have been different. The study, for example, looked at the numerous tactics implemented from the first to the fourth development plans, as well as the present Bank of Industry. The performance of the industrial sector was examined from 1981 to 2020, and we found that there were significant swings in the industrial sector's performance in the 2000s compared to the 1980s and 1990s. For example, in 1981 and 1992, industrial value added as a proportion of GDP was 39.245 percent and 37.71 percent, respectively, compared to 27.383 percent and 28.221 percent in 2019 and 2020. To improve Nigeria's industrial performance, the report finds that more synergy in industrial policies are required.

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