A critical analysis of the Nigerian situation shows that we are not meeting any of these three primary common denominators of industrialisation and are not making any meaningful progress. It is even heart-rending that instead of marching towards industrialisation, we are faced with de-industrialisation in Nigeria. This refers to the decline or shrinking of the little progress made in the industrial sector of the economy. This process typically involves reducing the share of industrial output and employment in the overall economy.
It is most unlikely that you will visit China and not notice its great industrialisation success. China’s mesmerising success in creating jobs, lifting 700 million people out of extreme poverty, generating overwhelming wealth, improving living standards and achieving food security for its people through industrialisation is remarkable. Its speed and precision in industrialisation is a modern-day miracle. China overtook the United States to…