THE EFFECTS OF UNRESTRAINED IMPORTATION IN INDIGENOUS INDUSTRIES
CHAPTER ONE
GENERAL BACKGROUND TO THE SUBJECT MATTER.
The president of manufacturing association of Nigeria, Rufus giwa(2000 .p 16) defined industry thus: “ Industry particularly, manufacturing, in the motive force for development. Infact, industrialization is more than engiues of growth. It is also the catalyst for technological, financial and socio- economical advancement.” Trade and more especially foreign trade have astronomically been instrumental in mans bids towards betterment of his life on earth. Today, we can enjoy and make use of author mobile made in far away Japan as if they grow in our garders. Other articles which we cant dream of producing even in the next millennium liters our market as if they were going out of fashion. All these are courtesy of foreign trade and broadly on one of its two- pronged division: “ impastation”. A very important concept it as, but like a two edged sword, it can destroy if not carefully handled.
A student on how foreign products crowd market and how our local industries are nose. Divine into oblivion show that we are already receiving a fair dose of rough handling under the sharp claws of this excessive importation. “ The Nigeria trade journal” of March/April 1980, analyzing our trade statistics put the total of bear and stout importation at N7,562,315. people shouted and rose dust over it that it is excessive, but what have we to say today that people zoom off from the country just to import tooth picks and toilet rolls? The millions of graduates that our academic institutions turn out annually have their fate hanging over the balance. With hands supporting their checks, and all hope on divine intervention they helplessly watch as our few industries fold up in their hundreds.
Retrenchment and counter retrenchment of workers have become so common as the few existing owns battle to break even and remain in contention. consequently, employment and poor standard of living can’t be more adventurous. An idle man they said in the devils tools. Cooping with the fact that both ends must meet, arm-robbery, fraud, bribery corruption and other social vices exert dominion. Hence our country can’t heap winning the inglorious “most corrupt country” award in the year 2000. Our surviving industries virtually are at the end of this letter forgery, from the lamentable figures they post in their annual report as profit after exuberant tax from a government that don’t spare their selves a thought about their welfare instead of re-investment or expansion, the little token that will succeed in dropping into their coupes went into unreasonable advisement which they see as their last reset to remain in contention in the ever growing corporative market. These and many must have been the plight to our indigenous industries consequent upon excessive importance. This work try to look into the effect of this practice and to curtail it’s excesses. It will make a step further to put forward, measures towards revamping the vandalized state of on indigenous industry.
1.2 PROBLEMS ASSOCIATED WITH THE SUBJECT MATTER
The subject matter is that which have a hamper of problems under it’s care. Below are some of them.
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