JAMB - Economics (2016 - No. 41)
The slow pace of industrial growth in Nigeria can be attributed to__________?
lack of raw materials
lack of market for produce
inadequate skilled labour
over-dependence on the oil sector
Paliwanag
By implication, the dependence on oil revenue to finance national development has made the Nigerian economy highly susceptible to oil price volatility. This has in turn slowed the growth of other industries like agriculture because less attention and investment is being put in there.