Roles of Manufacturing and Construction in Economic Development
1. They contribute to the national socio-economic development goals by providing shelter, infrastructure, and employment opportunities at different levels
2. Improvement in health
3. Structural shift towards higher growth in more value-added ways.
4. Building social capital and wealth supporting communities.
5. Provision of necessary foundation for an economically and environmentally sustainable societyThe term society is derived from the Latin word 'socius' meaning friendship or companionship. Society is a community, nation or group of people who share the same traditions, institutions, rules and... More
6. Drive towards technological innovation by creating modern systems
7. Added value to economic growth and development
8. Integration into global value chains with new opportunities provided by resources-based industries
9. Diverse expertise now work together in order to increase investment and profit
Evaluation Questions
1. Discuss the problems of manufacturing sector
2. Explain the growth of Nigerian manufacturing sector
Responses