The Foundry Industry: A Sustainable Industrialization and Development Strategy for Nigeria
Publication Date: 14/05/2019
Author(s): M. N. Nwigbo.
Volume/Issue: Volume 2 , Issue 2 (2019)
Abstract:
A nation’s technological growth and economic development is often predicated on her level of industrial practice and manufacturing. Nigeria's economy however is dependent largely upon importation of spare parts and machine component for such vital sectors of the economy as ship building, railways, agriculture, cement industry, food processing, power generation, etc. This is largely because Nigeria has given little or no attention to manufacturing and industrialization. In this paper, the foundry industry is emphasized as the bedrock for sustainable industrial and economic development of Nigeria as every other subsector are linked with foundry products. Demand for foundry products in Nigeria is presented and Government efforts toward sustained foundry practice as well as problems confronting Nigerian foundries are also highlighted. It is concluded that foundry industries are profitable ventures and can serve as a source of employment to graduates, and is thus of strategic importance in a nation’s strive for industrialization. Therefore, development of foundry industries should be of strategic concern to planners of rapid industrialization of any nation. Finally, recommendations constituting the way forward in ensuring a better foundry practice and sustainable development in Nigeria are made.
