1. Issues Of Productivity and Development In Nigeria.
- Author
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Omofonmwan, Samson Imasogie, Omoyibo, Kingsley Ufuoma, Odia, Lucky Osaretin, and Omoro, Joseph
- Subjects
INDUSTRIAL productivity ,BUSINESS development ,FACTORS of production ,ECONOMIC policy ,SUPPLY & demand ,DECISION making in marketing ,INFRASTRUCTURE (Economics) ,DEVELOPING countries - Abstract
Productivity is a quantitative measure of the relationship between the quality and quantity of input and the resulting output. Productivity also implies the efficiency with which the factors of production (inputs) are combined for increased output. The level of productivity (i.e. output) and its ability to satisfy local demand is one of the best measures of a country's level of development. To increase productivity and/or development entails; implementing sound economic polices, providing basic infrastructures, empowerment of people, increasing access to credit facilities, mass participation in decision making processes and enhanced security situation. But unfortunately Nigeria and many other third world countries are not able to increase their productivity level because of low technological base, low savings rate, low investment, corruption and poor leadership, inequality in access to opportunities, poor infrastructural base and misplacement of priority. For Nigeria to increase her productivity level, the country has to defreeze herself from the shackle of archaic tradition and embrace modern science and technology. Agriculture which is the doyen of all the sectors of the economy must be given priority. The infrastructural base (electricity supply, education and health facilities, piped water supply, access roads, communication facilities etc) must be improved and other life enhancing amenities should be provided. Further more -corruption (a cracker worm which has eaten deep into the fabric of our society) must be stemmed by enacting the appropriate laws. [ABSTRACT FROM AUTHOR]
- Published
- 2010