Effect of Infrastructure Development on Industrialization in Nigeria

Nexon Amarachi ()

Journal of Developing Economies, 2024, vol. 6, issue 1, 12 - 24

Abstract: Purpose: The aim of the study was to assess the effect of infrastructure development on industrialization in Nigeria. Methodology: This study adopted a desk methodology. A desk study research design is commonly known as secondary data collection. This is basically collecting data from existing resources preferably because of its low cost advantage as compared to a field research. Our current study looked into already published studies and reports as the data was easily accessed through online journals and libraries. Findings: Education plays a pivotal role in driving technological innovation and fostering economic growth. Through education, individuals acquire the knowledge, skills, and expertise necessary to develop new technologies and drive innovation across various sectors. A well-educated workforce is crucial for advancing technological advancements, as it enables individuals to engage in research, development, and application of new ideas. Moreover, education fosters critical thinking, creativity, and problem-solving abilities, which are essential for addressing complex challenges and driving innovation forward. Additionally, education enhances the adaptability of the workforce, enabling individuals to keep pace with rapidly evolving technological advancements. Furthermore, investments in education contribute to economic growth by increasing productivity, stimulating entrepreneurship, and fostering a competitive workforce in the global market. Therefore, the role of education in technological innovation and economic growth is undeniable, serving as a foundation for sustainable development and prosperity in the modern world. Implications to Theory, Practice and Policy: Modernization theory, dependency theory and institutional theory may be use to anchor future studies on assessing the effect of infrastructure development on industrialization in Nigeria. Develop evidence-based tools and decision-support systems to assist policymakers in prioritizing infrastructure investments based on their potential impact on industrialization outcomes. Implement governance reforms aimed at strengthening regulatory frameworks, improving institutional capacity, and enhancing policy coordination mechanisms to facilitate effective infrastructure planning and delivery.

Keywords: Infrastructure; Development; Industrialization (search for similar items in EconPapers)
Date: 2024
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