THE STRUCTURES OF NIGERIA INDUSTRIAL ECONOMY AND CIRCULAR FLOW INCOME
Keywords:
Abstract
The paper focus on the structures of Nigeria industrial economy , Nigerian MSEs are more developed than the SSE, with production techniques characterized by organised factory–type processing of more complex goods. They dominate in textiles, readymade garments, metal products, footwear as well as pharmaceutical products, and cater for a wide market. They employ relatively high technology, but unlike large scale enterprises (LSEs), are less capital intensive. In a number of cases, they represent backward integration from trading activities. Access to technology is not a major constraint; they are able to employ technical specialists to install equipment and train employees. The LSEs comprises the modern factories, often with multi-national linkages, using the state-of-the-art technologies and mass-producing for both domestic and export markets. The analysis of industrial structure by size, in 2006, showed that SSEs constituted 65.5 per cent, while the MSEs and LSEs constituted 32.0 and 2.5 per cent respectively.
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