Since Nigeria gained independence on October 1, 1960, the country has pursued various economic ambitions, including industrialisation, diversification, and inclusive growth. However, challenges such as policy somersaults, market failures, lack of political will, and market distortions have hindered industrialisation. These factors have constrained investment, weakened domestic production, and made it difficult for industries to operate at the scale needed to transform the economy. The slow pace of industrialisation has also contributed to disappointing performance in tackling poverty and creating productive jobs for the growing youth population.
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