PRODUCTIVITY STATISTICS (2012 -2019)
Improving productivity has become the main focus for many countries the world over. This is because productivity improvement is undoubtedly the most important international determinant of real economic growth, social progress and improved standard of living. Thus, changes in productivity are recognized as a major influence on many social and economic phenomena, such as rapid economic growth, higher standard of living, improvements in a nation’s balance of payment, inflation control and employment generation as well as determining the competitiveness of a country’s product in the international market.
The National Productivity Centre is the Apex agency of government that is charged with the responsibility of stimulating productivity consciousness in Nigeria. In her bid to achieve this mandate the Centre designed various programmes and projects, one of which is the measurement of productivity in the economic sectors of the nation, in this case, The Labour productivity trends and productivity Indices of the Manufacturing Sector (2012 – 2019).
The research study addresses three key objectives: A general productivity overview of the nation’s economy, a brief analysis of productivity trends in the manufacturing sector in Nigeria between 2012 and 2019 with emphasis in the performances of current administration (2015 – 2019) and identification and assessment of the key determinant of productivity performance in Nigeria over the study period.
It is hoped that this study will serve as a guide to government and other policy makers and business owners to make informed economic and socio-political decisions at national, sectoral and firm levels.
August 19, 2021
August 19, 2021