INDUSTRIES IN NIGERIA
CONTENT
- Definition of Concepts
- Location of Industry
- Localization of Industries
- The Role of Industrialization in Economic Development
- How the Government Encourages Industrialization
- Strategies of Industrialization
- Problems of Industrialization in West Africa
- Infant Industries
- Nigeria’s Indigenization Policy
- Nationalization
Definition of Concepts
Industry
Industry can be defined as commercial production and sale of goods or a specific branch of production and trade. In these sense, industry refers to a collective term for a group of activities directed to the production of a given class of commodities or a group of firms engaged in the same area of production, example, all firms producing textiles belong to the textile industry.
Firm
This refers to a single unit or entity that carries out production of goods or services. It is a single independently administered business unit of an industry.
Factory and Plant
Factory is an industrial building where laborers manufacture goods or supervise machines processing one product into another.
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