Assessment of Nigeria’s Manufacturing Industry and Economic Growth Relationship through Factors that Affect Economic Growth

Abstract

The aim of this study is to investigate the relationship between Nigerian’s manufacturing industry and economic growth for their relative improvement through factors that affect economic growth which include financial accessibility, human capital development, government policy/ implementation and infrastructural development. The statistical significant relationship between manufacturing and financial accessibility human capital development, government policy/implementation and infrastructural development are 0.031, 0.04, 0.022 and 0.012 respectively. Comparatively, the p-value obtained from the relationship between manufacturing and infrastructural development indicates stronger evidence in favour of the alternative hypothesis than other factors affecting economic growth. This study focuses on the Nigerian labour-intensive manufacturing sector and the units of analysis are manufacturing leather, wood, and metal products. To effectively investigate this relationship, quantitative research approach and survey research strategy are used. The data collected from the research were analyzed statistically with IBM SPSS Statistics Version 21. The results obtained show that statistically there is significant relationship between manufacturing and economic growth. Keywords: Assessment, Manufacturing industry, Relationship, Factors, Economic growth.