INDUSTRIALIZATION: RAPID GROWTH AND DEVELOPMENT OF ANY ECONOMY

· Import substitution industrialization as a development strategy, the aim was to reduce the dependence on imported consumer goods and create employment opportunity for the teaming Nigeria work forced, and since then, successive government at different point in time have involved serious industrial policy to suit the prevailing economic realities of such time till date, though the policies and strategies have changed, the objectives of government, namely, employment creation and production of consumer goods for the teaming population have remained uppermost in her development planning. After the successful installation of the democratic government in 1999, there was high hold that the pace of the economy development and industrialization was going to take a difference, the re-establishment of democratic government in 1999 was followed by aggregate enthusiasm by the government in redirecting development policy in country. To some Nigerians, democracy was perceived as the major ingredient of economic growth and development.

· Federal ministry of industry year 1989

· The overriding object of industrial policy is to accelerate the pace of industrial development by radically increasing value added at every state of the value chain. Nigerians resources will no longer, in the men be traded in their primary state.

· Government will emphasized increases in total factor production (TFP) by pursuing knowledge and skill intensive production on the basis of available best practices,
Nigeria’s industrial development strategy will encourage forward and backward linkages with a few chosen niches. Enabling environment for private sector leadership, facilitates renewal for sunset industries and encourage innovators, it will specifically promote small and medium enterprises