Industrial Policy Reform and Resource Based Development in Nigeria

Abstract This study examines the relationship between industrial policy reform and resource based development in Nigeria. Despite being richly endowed with natural resources, Nigeria continues to experience weak industrial growth and persistent dependence on primary commodity exports. This research investigates the effectiveness of past and present industrial policy reforms in promoting diversification, technological advancement, and structural transformation. Using secondary data and empirical analysis, the study explores the impact of policy inconsistency, institutional weakness, and governance challenges on Nigeria’s industrial performance. The findings reveal that resource endowment alone is insufficient for development without effective institutions, value addition strategies, and sustained implementation frameworks. The study concludes that Nigeria must adopt a coherent, long term and institutionally grounded industrial policy focused on value chain development, human capital investment, and infrastructural improvement in order to achieve sustainable economic transformation.