Title: Industrialization and Economic Performance in Nigeria: Analysis of GDP Growth and Per Capita Income
Authors: Felix Amabienimigha, Ebikabowei Biedomo Aduku
Volume: 9
Issue: 6
Pages: 152-160
Publication Date: 2025/06/28
Abstract:
This study examines the impact of industrialization on economic performance in Nigeria from 1981 - 2023 using the Ordinary Least Square (OLS) technique. Economic performance was measured using real GDP growth and per capita income. Empirical results showed that industrialisation and gross fixed capital formation had a positive and significant impact on real GDP growth. It was also found that Population growth had a negative and insignificant impact on real GDP growth, while domestic savings had positive and insignificant impact on real GDP growth. Also, it was found that Industrialisation, and gross fixed capital had a positive and significant impact on per capita income, while Population growth, and domestic savings had a positive and insignificant impact in per capita income. Government should enhance industrial policy by investing in infrastructure, removing regulatory bottlenecks, and offering incentives to manufacturing enterprises. This would increase industry productivity, attract capital investment, and eventually encourage long-term economic growth.