Problems associated with industries will be listed below. Showing the effect and explanation concerning each of them will be given in details
Six problems of industrialization in your country (Nigeria)
(1) shortage of capital i.e Lack of money
(2) Poor infrastructure
(3) Shortage of skilled manpower i.e no expert
(4) Neglect of agricultural sectors
(5) Political Instability
(6) Over reliance/ dependence on foreign technology
(7) over dependence on foreign aids
(8) poor commitment or lack of dedication
Those are the cause of problems faced in Nigeria
Explanation
(1) Shortage of capital= The capital (money) required to finance a good business in the country. There aren’t enough money in establishing firms(business) and government don’t give loans to individuals who are interested in making without he/she been feeded with sophisticated documents to fill.
(2) Poor infrastructure= This unavailability of infrastructural facilities which includes frequent power failures, bad roads, network failures, poor telecommunication system, congestion on road with heavy traffic mostly LAGOS hinders the smooth running of a business organization.
(3) Shortage of skilled manpower= The numbers of skilled labour personnel in the country, aren’t sufficiently enough. for example, a mechanical student good in theoretical aspects of motor; but can’t carry out the practical aspect needed out very well, is unskilled as far the nation is concerned.
(4) Neglect of agricultural sectors= This sector of the economy has been neglected for some period of time. This sector serves as most Africans source of foreign exchange, but have been undervalued by it owners for other means of foreign exchange. Due to this fact the necessary raw materials and spare parts of machines like tractors are been imported at an expensive rate.
