PROBLEMS OF MANUFACTURING INDUSTRIES IN NIGERIA AND AFRICA
The following factors hinder, limit or are responsible for the relatively low level of industrial development in Nigeria
- Shortage of raw materials: Lack of sufficient raw materials available to industries hinders large scale production
- Insufficient capital: Access to finance or loan is very difficult. Capital i.e. loan is only for the big time investors who possess collateral securities.
- High degree of foreign dependence: Most products made in Africa are of low quality compared with their counterparts in developed countries; hence, people rely or depend on foreign goods.
- Poor quality of industrial labour: Nigeria has a large pool of illiterate population that provides the personnel for our industries.
- Low purchasing power of the populace: Large scale poverty in Nigeria makes people have low purchasing power.
- Inadequate power supply: There are frequent disruptions of power supply in industrial areas and many areas do not even have power supply at all.
- Competition from foreign goods: because of the high quality of foreign goods, these produced by our local industries are usually not patronized.
- Shortage of entrepreneur: Owing to lack of capital and other factors, reliable investors are not common.
- Poor management: Corruption, embezzlement and negligence of duty are very common in African countries and these are indicators of poor management.
- Political instability: Frequent changes in governments and incessant civil wars in African countries discourage foreign investors.
- Inadequate transport and communication facilities: Transportation network like road, rail and communication facilities are grossly inadequate in Tropical Africa.
- Small market for industrial goods: Tropical African countries do not have large market that can accommodate industrial goods produced.
- Inadequate skilled man – power: Skilled man- power required for high industrial growth is grossly inadequate in developing countries.
- High cost of spare – parts: Industrial machines imported into developing countries may break down. In most cases, spare parts for such machines may not be available and when they are available, they are very expensive.
- economic tools for nation building
- factors affecting the expansion of industries
- mineral resources and the mining industries
- demand and supply
- types of demand curve and used
- advertising industry
- factors of production
- joint stock company
148. NEWCASTLE DISEASE
149. BACTERIA DISEASES
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