Explanation

Reasons for the low rate of industrial growth in Nigeria are:
(i) Shortage of investment capital
(ii) inadequate expertise and skilled labour
(iii) Restricted access to foreign markets
(iv) Inadequate domestic market
(v) Poor infrastructure
(vi) Inadequate locally - sourced raw materials
(vii) Poor capacity utilization
(viii) Bad government policies, e.g. monetary and fiscal policies
(ix) Unstable governments which hinder domestic investments and also scare away foreign investors 
 

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