The impact of exchange rate volatility on the manufacturing sector outputs in Nigeria

📄 Project Abstract

Manufacturing activities have significant impacts on the economy of nations as their contributions, which account for substantial proportion of total economic activities of nations, play crucial roles in the development process of any economy. In 2008, Nigeria manufacturing accounted for 4.13% of the Gross Domestic Product (GDP). The figure is an indication of downward movement, from 11.05% in 1980. Before independence, Nigeria, with its large population notwithstanding, had very little industrial development; a few tanneries, and oil crushing mills, which processed raw materials for export. During the 1950's and 1960's, a few factories, including the first textile mills and food-processing plants, opened to serve Nigerians. During the 1970's, and early 1980's, industrial production increased rapidly, principally in Lagos, Kaduna, Kano and Port Harcourt. Factories also appeared in smaller, peripheral cities such as Calabar, Bauchi, Katsina, Akure and Jebba, due largely to government po...