THE ROLE OF BANKS IN INDUSTRIAL DEVELOPMENT OF NIGERIA

Abstract/Description

Nigeria’s economy has been a monolithic one at least since the advent of the oil boom in the early 80’s. This is basically correct because consecutively speaking, the country earns about 80 person of its revenue from oil and the worst being that the emphasis has been crude petroleum. The assertion that industrialization accelerates the rate of economic development of a country cannot reasonably be disputed. Infact the basic promise is that if a rate of economic development she must have manufacturing production rising much faster than the overall rate of growth of the Gross National Product (GNP) and this has to be neglected in an increasingly dominating role of the manufacturing industry in the total economy. The project is emphasizing on the role which banks plays in order to improve the growth of industries in Nigeria by explicably, manifesting how the role of banks can be employed for the growth and development of industries it also emphasizes on the role in which banks play in the industries development of Nigeria, as it could been seen through the various services which these banks provides for the sustenance industrialization in the country.

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