Inclusive Industrialization and Economic Growth in Nigeria: The Challenge of Corporate Managers in Manufacturing Sub-Sector (2000 – 2021)

Abstract

This study explored inclusive industrialization and economic growth in Nigeria. The specific objectives were to ascertain the relationship between manufacturing value added and real GDP; and to determine the relationship between manufacturing employment and real GDP. It adopted an Ex Post Facto research design and data were analyzed with simple regression, while the test of hypotheses was done at a 5% level of significance. The findings revealed that a significant positive relationship exists between manufacturing value added and real GDP, while a significant positive relationship exists between manufacturing employment and real GDP. Therefore, the study concluded that inclusive industrialization will facilitate the economic growth of manufacturing firms in Nigeria through corporate managerial activities. Sequel to this, the study recommended among others that the Nigeria government needs to inject more funds into the manufacturing subsector in order to achieve inclusive industrialization in the country so as to boost economic growth.