CONTEMPORARY NIGERIA POLITY AND ITS IMPACTS ON INDUSTRIAL DEVELOPMENT IN THE COUNTRY

Abstract

The paper explained the contemporary Nigeria polity and its impacts on industrial development in the country. The background to the study and problem statement were stated. The study variables were conceptualised on the basis of definitions, types, methods and challenges. Theoretically, Stages of Growth theory served as theoretical framework for the study. The theory stated that for countries to experience industrial development or industrialisation, they must experience transition through five stages of growth. These stages of growth are: The traditional society, the preconditions for take-off, the take-off, the drive to maturity, and the age of high mass consumption. Nigeria as country is yet to wind up the first stage, indicating that the country (Nigeria) has not entered the second stage. Thus, the paper showed that contemporary Nigeria polity is yet to embrace the key for industrial development of any serious-minded nation. This is the reason why it is obvious that no advanced nations reached the developed stage without good polity and policies. Hence, this paper recommends that there is need for government to create a good environment and policies that could be inviting to investors. This if done properly, would foster industrial development that would facilitate economic growth and development.