REVIEWING SUSTAINABLE DEVELOPMENT IN NIGERIA WITH EMPHASIS ON INDUSTRIAL SECTOR PERFORMANCE (2002-2018 PERSPECTIVE)

Abstract

for economic growth. Nigeria as a country has many industries that produces several
goods and services yet the country suffers from lack of balanced development in which its
social and economic aspect are not taken into account for sustainable development. The
objective of the study is to examine the activities of Nigeria industrial sector as an issue
for sustainable development in the country. The study employed historical data covering
the period of 2002-2018 sourced from CBN. The regression estimation result revealed
that average exchange rate and manufacturing output exert positive relationship while
average capacity utilization and commercial bank loans exert a negative impact on
gross domestic product. The study recommended that basic infrastructure should be
refurbish so as to boost manufacturing output, exchange rate should be manage so as to
improve the value of Naira. Commercial banks should be encouraged to finance the
activities of manufacturing sector so as to enhance economic growth.