Browsing by Author "Imianvan, Omobola Adeola"

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Committed Implementation of the Industrial Master Plan: a Must for Real Growth in the Nigerian Economy
(National Institute Kuru, 2001-11-30) Imianvan, Omobola Adeola
Between 1989 and 1991 the Guidelines for the Strategic Management of Industrial Development in Nigeria (SMID), otherwise known as the Industrial Master plan (IMP) was prepared and launched by the President. The Guidelines marked Phase I of the plan. Unfortunately, the other two phases were abandoned due to lack of funding and commitment by the government. Meanwhile, the IMP has been tested in countries of the Pacific Rim such as Korea and Malaysia, as is recommended by the United Nations. This essay analysed the various attempts since independence to achieve growth and development in the industrial economy. The botched attempt by Nigeria at implementing the Industrial Master plan was analysed through the activities (or lack of it) of the Strategic Consultation Groups set up to manage the twelve priority sub-systems identified by the IMP Guidelines — Foundry and Forges; Metal Fabrication; Cement; Sugar, Confectioneries and Beverages; Leather and Leather Products; Rubber and Plastics; Textiles and Wearing Apparel; Pharmaceuticals; Non-metallic Building Materials; Cereals and Grains Milling; Fruits, Vegetable Oils, Oil Seeds, Roots and Tubers; and Livestock and Allied Products. Information received from field survey and secondary data from the Federal Ministry of Industry, CBN and the World Bank show the similarities in industrialisation policies between Nigeria, Korea and Malaysia, over the last 40 years or so. However, while Nigeria remained a low-income nation, the other two have moved up into the medium-income group. The difference was mainly due to the successful implementation of the IMP in these two countries. The essay therefore called for a return to the Master plan and its full and committed implementation by Nigeria.