Theory question 110
IndustrialisationSection B: answer three questions only from this section.
Outline the role of industrialization in the economic development of Nigeria.
Show the model answer
Model answer
Creates employment
Raises national income and standard of living
Diversifies the economy away from oil and primary products
Provides a market for agricultural raw materials
Saves foreign exchange through import substitution and earns it through exports of manufactures
Promotes technology and skills
Increases government revenue through taxes
Encourages development of infrastructure
Reduces rural–urban drift when industries are spread out
Adds value to local raw materials
Explanation
Outline at least five roles.