Establishment of industries, panacea to insecurity

By Maria Famakinwa

Industrialization plays a vital role in the economic development of a nation. Most developed countries of the world today overcame poverty through establishing of industries. Setting up of industries and reviving the ailing ones have been said by economic experts as a way to increase national income, improve standard of living, create jobs, fight insecurity, improve balance of payment among other benefits.

Some concerned citizens who spoke with The Hope maintained that reviving moribund industries will generate employment opportunities in small and large scale industries as they argued that in an industrialised economy, industry absorbs underemployed and unemployed workers from the agricultural sector thereby increasing the income of the country.

In the submission of an economist, Mr Olabode Bamidele, explained that the three teirs of government across the country must revive ailing industries and as well create new ones to drive sustainable growth, adding that all developed and emerging economies have used industrialisation as the key driver of modernisation. He maintained that industry creates the platform that attracts capital and technology to any economy, noting that no country has ever become rich by exporting raw materials without also having an industrial sector. “If production activities take place in Nigeria, the accompanying jobs would be created here. This is best driven by deliberate protection of local manufacturers.”

Bamidele who lamented the rate at which most Nigerians are running to countries like Ghana, South Africa that could not be compared with Nigeria before called on the Federal Government to do the needful by giving priority to ailing industries in the country which he described as an important aspect of governance in contemporary world to provide more employment.

Another economist, Mr Linus Ike, who attributed the high rate of insecurity in the nation to unemployment added that unless there is urgent step to create jobs for the teeming unemployed youths in the nation, social vices will remain unabated. “What do you expect in a country that is turning out hundred of millions of graduates yearly without job? The only solution to insecurity is employment which can only be possible by reviving moribund industries and establishing more so that youths can be gainfully employed.

“Aside solving unemployment problem through reviving ailing industries and establishing new ones, industrialisation increases a country’s national income because it allows a country to make optimal use of their scarce resources. It also increases the quality and quantity of goods manufactured in the country which make a larger contribution to Gross National Product (GNP). In an industrialised society, workers’ labour is worth more because of higher productivity. Individual income increase due to the rise in income which in turn raises the standard of living for ordinary people.”

Sharing similar sentiment, an economic analyst, Mr Bayo Lawani, who also blamed the increasing insecurity and poverty daily experienced in the country on joblessness revealed that reviving moribund industries without stable electricity will amount to an effort in futility. “Industries need stable power supply to carry out operations. Few of the surviving industries in the country are considering relocating to other countries with regular electricity supply because they cannot cope with the cost of petrol, diesel and gas to run their businesses aside monthly payment of workers salary.”

On the way forward, he advise that the Federal Government should develop strategies that will revive government’s ailing industries. “Like the textile industry that can create over one million new jobs if all the right things are put in place especially, if there is political will on the part of government at all levels as well as commitment of all the stakeholders. There is need for Federal Government to do everything possible to revitalise the Nigerian textile sector which holds numerous potentials for the economy instead of continuous relying on imported fabrics. There are other industries too that provided employment opportunities for Nigerians in the 80s and 90s, let the Federal Government set up a committee that will look into those industries and take a step to revive them. The country stands to gain a lot from this because there will be reduction in crime rate and make the country attractive to foreign investors.”

In the contribution of an Economic teacher, Mrs Omolara Molebi, she also affirmed that reviving ailing industries in the country will stimulate growth and progress in other sector of the economy because according to her, a development in one industry will affect related industries. “The aim of reviving moribund industries is to create jobs and empower people through creation of a strong and viable economy. It will be advisable if the Federal Government can use half of the money budgeted yearly to fight insecurity to establish industries because lack of unemployment is the root cause of many vices witness across the nation. Government cannot succeed in fighting insecurity and other social vices without addressing the reason for such which is unemployment. When people are gainfully employed, crime rate will drastically reduced. 70 per cent of crime committed in the country are carried out by jobless youths most of whom are graduates. I think that this is the point the Federal Government should start from in order to win the war against insecurity.

“Let government at all levels focus on employment generation instead of spending huge amount of money on arms and see if it will not work. Many find themselves in robbery today to keep body and soul together but if government can use the money budgeted to fight insecurity to establish industries, I am sure crime rate in the country will be reduced to its bearest minimum because an idle hands is devil’s tool,” she added.