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STEPS TAKEN BY GOVERNMENT IN ENCOURAGING INDUSTRIAL DEVELOPMENT — Economics Keypoint

STEPS TAKEN BY GOVERNMENT IN ENCOURAGING INDUSTRIAL DEVELOPMENT

(1) Making provision for capital in form of loans to the industrialist through the establishment of 

  • The Nigerian industrial bank 
  • The Nigerian agricultural bank 
  • The Nigerian bank for commerce 

(2) Making provision for adequate infrastructural facilities through development plans.

(3) Granting of tax-holidays, subsidies as well as duty free import of raw materials to the industrialists.

(4) Total ban of certain foreign goods.

(5) Granting of export incentives to the industrialists.

(6) Direct government participation.

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