CONTEMPORARY NIGERIA POLITY AND ITS IMPACTS ON INDUSTRIAL DEVELOPMENT IN THE COUNTRY

Abstract

The paper explained the contemporary Nigeria polity and its impacts onindustrial development in the country. The background to the study and problem statement werestated. The study variables were conceptualised on the basis of definitions, types, methods andchallenges. Theoretically, Stages of Growth theory served as theoretical framework for the study.The theory stated that for countries to experience industrial development or industrialisation, theymust experience transition through five stages of growth. These stages of growth are: Thetraditional society, the preconditions for take-off, the take-off, the drive to maturity, and the ageof high mass consumption. Nigeria as country is yet to wind up the first stage, indicating that thecountry (Nigeria) has not entered the second stage. Thus, the paper showed that contemporaryNigeria polity is yet to embrace the key for industrial development of any serious-minded nation.This is the reason why it is obvious that no advanced nations reached the developed stage withoutgood polity and policies. Hence, this paper recommends that there is need for government to createa good environment and policies that could be inviting to investors. This if done properly, wouldfoster industrial development that would facilitate economic growth and development.