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MANUFACTURING AND CONSTRUCTION IN NIGERIA

CONTENT

  1. The Manufacturing and Construction Industry
  2. Roles/Contributions/Significance of the Industrial Sector to Economic Development
  3. Problems of Manufacturing Industries
  4. Solutions to Industrial Problems

 

The Manufacturing and Construction Industry

Manufacturing industry refers to the turning of raw-materials into new products by mechanical or chemical processes at home (cottage) or in the factory. It is concerned with the activities of those who engage in processing and turning raw-materials produced in the primary industry into finished products. Examples are shoe making, food processing, plastic processing and textile processing.

Construction industry is concerned with all the activities of those who engage in assembling of goods into useable form. They convert manufactured products into various uses. Examples are: road construction, building construction, airport construction, bridge construction, furniture construction, etc.

Roles/Contributions/Significance of the Industrial Sector to Economic Development

  1. Industrial activities help in solving the basic problems of unemployment, inflation, budget deficit and general economic disequilibrium.
  2. It assists to implement the policies of the government that have been directed towards the improvement of local production.

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Lesson tags: Economics Lesson Notes, Economics Objective Questions, SS3 Economics, SS3 Economics Evaluation Questions, SS3 Economics Evaluation Questions First Term, SS3 Economics First Term, SS3 Economics Objective Questions, SS3 Economics Objective Questions First Term
Back to: ECONOMICS – SS3 > First Term
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