How I wish to promote industrialization In my country Nigeria, is the rate of how I wish my country runs so fast in decades to met the standard with other developing countries. The more my country was industrialized, the more they will get away from their old methods and traditional ways of farming, fishing and cultivation of crops which has exposed the entire population to famine, hardship and scarcity due to unavailability of foods, goods and commodity because of their old style of production that is more stressful, It take a lot of time, required much man's efforts but with little yields.
An adage says " what we are, the world is " meaning that, if am an illiterate and you is the same thing or no parents is ready to spend affluent on their children for schooling, then our world will be as illiterate as we are . Suppose I went to school and you also went to school with the aim of passing the examination and to have a good certificate but it bothers not to apply thus which we have learnt into Practical approach to straighten and correct the ways that would provide a needful solution to the societal problems, then how we are. Better than a man of a single book. Thus the combination of those people, who are not educated and those that are educated but fails to use the knowledge they have in class to tackle societal problems would build up an illiterate world. How then, are we to recognize our problems when illiteracy prevails that hardship, famine, high cost of goods comes from lack of industries , companies and firms that can produce goods in thousands which will be able solved the problems related to hardship, famine and high cost of goods through the law demand and supply that says "the higher the goods supply by the producers to limited consumers, then the lower the price but the higher the goods demanded by the unlimited consumers to meet their needs then ,the higher the price” These means that when there are many companies, factories and firms producing and supplies thousands of goods to the society on every daily basis without much consumers demanding for it , then the price of the goods will be reduce but when there is no enough companies , factories and firms ( even hardly can one be found in a state) that can produce goods in excessive amount and there is a lots of people demanding for the just few goods produced competitively for their survival , then there. Will be an extreme increase in the price range of the goods and this is one the reasons why our country (Nigeria) needs to be industrialized.
Access of capital to less privileged that has the passion , knowledge and orientation for industrialization but lacks the capital for starting the entrepreneurship industrialization, it is the responsibility of the governments to grants loans to the less privileged that has the desires for entrepreneurship industrialization for production of certain good and services that will adds more value the economy of the country. But it has been noted from past decades that, the interest rate placed on a loan has felling the hands and discourage interested people towards industrialization as the condition of the interest rate is too high.
An adage says "A government, who lays heavy taxes on the public, is not a protector of liberty rather an instrument of tyranny." This study therefore examined implication of tax and taxation on the construction sector in Nigeria with a view for industry operator’s decision-making. Using extensive review of related literature as well as eliciting primary data through structured questionnaires administered on purposive but randomly selected 100 respondents, elicited data were analyzed using descriptive and inferential tools. The result indicated that Value Added Tax and With Holding Tax are most identified , 85% of respondents are aware of the identified taxes while Multiplicity of taxes, corruption risk and lack of confidence in the tax and poor enforcement of tax laws and policies were ranked major inhibiting factors to tax payment. Yet, tax administration was found to have no insignificant effect on tax payment in Nigeria tax system. At the end of research avail for long-run taxation behavior on the building and construction sector of the economy and on investment decision, it is recommended that appropriate guidance and understanding must be take note of tax system and policies required by operators and investors and tax authorities in order to attract tax compliance in the economy.
To promote industrialization, government’s policy is very important to accelerate proper economic growth .In recent years, a large number of studies have presented useful discussion on industrial policy showing the strategy, objective of the governments towards the policy and the effects of policy on industrialization. After 60 years of Independence, Nigeria is yet to become an industrialized country. Instead the country remains an exporter of raw materials and commodities due to lack of industries, companies or firms that can convert to a useful products example includes export of crude oil to other countries for refinery. About 90% of exports earning and 70% of government’s revenue are derived from oil which occur as a result of the policy of the government. An overview of Nigeria's development history shows that over the years, governments has implemented various policies towards industrialization and those policies includes import substitution industrialization (ISI)strategy and Exports promotion industrialization (EPI) strategy which has been sometimes favoring industrialization then but now it has begun to fails. So those policies have to be replaced with modern policies that have more advantages than the formers.
In conclusion, for Nigeria to develop and be industrializes, the government should not only take the cognizance of the need to structure institutions and create policies; it should also address issues of education and human resource development by investing in science and technology, research and development. Secondly, for Nigeria to attain its industrialization goal can be done by reforming the education system and developing human capital. It is important to note here that without a large pool of well-educated citizens or adequate supply of human capital, adopting and adapting the technological innovations necessary for industrialization will be problematic. This is what the late Japanese economist, Kazushi Ohkawa, and American historian, Henry Rovosky, referred to as “social capability.” This connotes the general level of education and technological competence of a country; it also entails the abilities of its commercial, industrial, and financial institutions to finance and support businesses, among other political and social factors.
Also to surmounting the challenges and problematic that have hindered Nigeria's industrialization over the years is to provide political will and show commitment to policies. Rather than continue with the development plan of a previous government, successive administrations have tended to come up with new industrialization programmes that are eventually abandoned, even if not entirely, by their successors.
Another factor for industrialization to take place in Nigeria is the accumulation of infrastructure stock. Today, Nigeria is symbolic of Africa's dismal infrastructural problems. With so many revenues that have accrued over the decades from abundant natural resources, Nigeria still lacks adequate social and productive infrastructure. This is part of what has constituted a major limitation to its economic growth and development. Efficient and adequate provisions of infrastructure such as transportation, water supply, electricity supply and telecommunications are what give impetus to industrialization. The quantity and quality of available infrastructure affects production cost, thereby impacting the profitability of businesses.
A lot of people see corruption as the bane of Nigeria's development and industrialization. While endemic corruption has been a major impediment to Nigeria's development, China, India and a lot of the newly industrialized countries of South East Asia have made significant strides in industrialization while still grappling with systemic corruption.
What Nigeria needs the most – even while conceding anticorruption should be part of government policy – is strong political will in creating and implementing the appropriate economic models for industrialization. The country also needs a strong commitment in building substantial stocks of human, social and physical infrastructure. This can be achieved with a clear economic vision as well as through strategic development and private-sector partnerships. But an adages says "past is dead, future is uncertain and present is all we have". So therefore the needs to promote industrialization in Nigeria still remain as strong as ever.