PRODUCTIVITY FOR ECONOMIC RECOVERY AND SUSTAINABLE GROWTH
DOI:
https://doi.org/10.29121/granthaalayah.v7.i8.2019.684Keywords:
Productivity, Recession, Challenges, Economic Recovery, GrowthAbstract [English]
This paper presents the major productivity challenges facing Nigeria as a nation which contributed to delays in her economic recovery process. Some industrial visits were made to ascertain the effective levels of productivity, while administering structured questionnaire for data gathering. Comparative analysis was done between countries which were also categorised according to their developmental levels and strategies. Nigeria was included in the analysis, with a view to knowing where we belong and how best to fashion a way out of recession to achieve economic recovery. Results showed that corruption has eaten deep into the fabrics of our economic development. Manufacturing industries were found to be shutting down, due to unfavorable international competitiveness. One major way out of our recession was the development of human resources and creation of a stable macroeconomic environment. Also, Nigeria has to develop further its research and development activities through the allocation of more Research and Development expenditure as percentage of GNP particularly industrial research, in order to become competitive in the international market.
Downloads
References
Adegbuyi O. and Uhomoibhi B. (2008); Foundation of technological and infrastructural development. World Bank report on development.
Archibugi S. and Coco F. (2002); Rapid industrialization policy.
Byers S. (2013); Entrepreneurial skills development. World bank report.
Ekumankama E. O. (2017): Preservation of Agricultural Produce – Role of the Engineer. NSE Proceedings, Abakiliki.
Krugman G. (2014); The industrial and technological development of Less Developed Countries.
Narula K. and Sadowski R. (2002); Appropriate macro policies for technology transfer.
Osueke, G. O; Nwosuh E. N; and Esekhagbe R. (2012): Techniques for Effective Waste Disposal System in Owerri for Improved Productivity. International journal of Development Studies, vol. 5, No. 4.
Umar A. A. (2010): Investigation of Quality Related Costs in Nigerian Industries. Journal of the Nigerian Institution of Mechanical Engineers. Lagos, Vol. 2, No. 1
Wikipedia.com (2010); Waste management in third world Countries.
Wikipedia.com (2017); Economic recovery process. https://en.wikipedia.org/wiki/Economic
https://www.vanguardngr.com/2018/03/nigerias-economic-recovery-still-fragile-imf.
Downloads
Published
How to Cite
Issue
Section
License
With the licence CC-BY, authors retain the copyright, allowing anyone to download, reuse, re-print, modify, distribute, and/or copy their contribution. The work must be properly attributed to its author.
It is not necessary to ask for further permission from the author or journal board.
This journal provides immediate open access to its content on the principle that making research freely available to the public supports a greater global exchange of knowledge.