Sustaining Economic Growth and Security Through Rural Industrialization

Abstract

This paper is anchored on sustaining economic growth and security through rural industrialization in selected local government areas in Anambra State as a case study. It adopted the descriptive survey method, using both primary and secondary sources of data to extract information that enabled the conclusion. Its target was to determine the factors that militate against economic growth and security in Nigeria, viz., the imports of industrialization in sustaining economic growth and the security of lives and properties. The population of the study is one thousand, seven hundred and forty-five staff of Aguata, Ekwusigo, Aniocha, Awka South, Oyi, and Onitsha North local governments. A sample size of one thousand, two hundred people was drawn using random sampling techniques. The simple percentage method was used in the interpretation of the data. We identify the following as constraints to economic growth in Nigeria: importation of foreign-made goods; government policies; high cost of production; lack of funds, etc. The paper also recommends, as follows: favourable government policies with respect to tax reduction for SMEs; provision of infrastructure; adequate credit facilities for manufacturers; human capital development to sustain new technology; and encouragement of local manufacturing of goods and services.