Banks Participation In Industrial Development In Nigeria

In Nigeria since the oil boom in the early 70’s has been a  victim if monopolistic  economy and since then we had been enjoy the so called “PETRO NAIRA” without adequate involving in a sound policy that will keep the nation economy in a firm foundation for study growth. Though, the country importance of industrialization as for back as 1964, yet without “PETRO NAIRA” started flowing in they have blind fold as to ignore the important of establishing industries to ensure a diversified economy.

Industrialization has been approved beyond reasonable doubt as very crucial for a nation to survived henceforth it is pertinent that we explicable manifest how the role the banks can be employed to the development of these industries.

In doing these, we will reach to an extent of study the medium and small-scale industries which are very crucial to economy. To end this, Banks find it difficult to top lure  prospective investors having lost the confidence and credibility respond on them to save.

Consequently, this militates against the proper development of industries in any economy like Nigeria. In the light of the above importance of industries they need assistance for their survival. To achieve this, however their activities growth and development need to been matched with financial sound system.

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