PRODUCTIVITY IMPROVEMENT: A PIVOTAL NEED FOR CONTINUOUS ECONOMIC DEVELOPMENT IN NIGERIA
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Abstract: Nigeria is extremely lucky as it is endowed with vast natural resources, resourcefulness, active and youthful human capital and innovation, the best all-year-round weather and all that a nation needs to become a big economic success. Despite these endowments, however, the present state of productivity and economic development in the nation cannot be gauged and positively assessed to be proportional to these great attributes. Where did Nigeria miss it? This study aimed to point out the need for productivity improvement for continuous economic development in Nigeria, examine the causes of the trend and analyze the most current productivity trend. The study applied a secondary method of data collection to analyze the most current trends of labour productivity in Nigeria. it discovered that the performance of the main drivers of the economy (manufacturing sector) has been unimpressive in terms of value in the year 2021. There is less labour demand in these industries coal mining, metal ores, electricity and gas. And also, wages in Nigeria were $8 per hour for the most the recent year 2021 which is considered extremely low when compared to other comparators countries in this study. The paper recommends possible ways and actions for raising national productivity in an emerging country like Nigeria
Keywords: Productivity, development, economic growth, labour productivity, Nigeria.
Title: PRODUCTIVITY IMPROVEMENT: A PIVOTAL NEED FOR CONTINUOUS ECONOMIC DEVELOPMENT IN NIGERIA
Author: Nzenwata Beauty Chisom, Bimba Gana
International Journal of Management and Commerce Innovations
ISSN 2348-7585 (Online)
Vol. 10, Issue 2, October 2022 - March 2023
Page No: 1-10
Research Publish Journals
Website: www.researchpublish.com
Published Date: 03-October-2022
DOI: https://doi.org/10.5281/zenodo.7139069
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