AN APPRAISAL OF THE ECONOMIC IMPLICATIONS OF THE INDUSTRIAL REVOLUTION IN NIGERIA

Abstract

Change is inevitable in a progressive society – Benjamin Disraeli. The world continues to undergo certain changes in order to meet up with man’s requirements. Revolutionary changes are been witnessed across various aspects of human endeavours. These changes have transformed the world into a better place and made living more comfortable. Some nations of the world champion the course of these transformational changes termed ‘Industrial Revolution’ earlier than others resulting in their rapid growth and development while others still strive to overcome the issues militating against their development especially industrial. This paper therefore explored the industrial revolution and its economic implications in Nigeria. Certain factors militating against Nigerian industrialization were highlighted. It was however envisioned that industrialization of the country will go a long way in boosting the nation’s economic development.

Keywords: Industrial revolution, Industrialization, Nigeria, Economic growth and development