Industrial sector growth and economic performance in Nigeria

Abstract

The Study analyzes the nexus between industrial sector growth on economic performance in Nigeria between the periods of 1981-2021. Specifically, investigate the impact of crude petroleum and natural gas growth, solid mineral growth and manufacturing sub-sector growth on the performance of Nigerian economy. The following test were conducted, Unit root test, co-integration test and error correction model. The study finds out that crude petroleum and natural gas growth, Solid mineral growth and Manufacturing subsector growth has positive and significant impact on the performance of Nigerian economy. The study recommend, that federal government and policy makers should stimulate economic growth in Nigeria through increased output in crude petroleum and natural gas. Creating a conducive environment to achieve strong performance of the solid mineral sub-sector. Government should hasten and implement its diversification plan to stimulate manufacturing sector output. Sustaining efforts at generating local materials for infant industries and support the campaign of local contempt initiative.