Nigeria's Sustainable Economic Headway

This article provided us with a simple, but very powerful framework to understanding how a sustainable economic growth can be actualized. Within the confines of this rational work, it was shown that agro based economy, on the long run, will not lead to a sustained economic growth while industry based economy will foster sustained economic growth. This is because industry based economy is being supported by the process of ‘capital accumulation’.

Though this article showed evidence that increased industrialization shrinks the share of the economy devoted to agriculture, however we stand not to discourage improvements in agro based economy. We acknowledge that basing economic growth solely on industrial development may lead to increasing income inequalities, especially in countries that have large rural sectors that depends on basic agrarianism like Nigeria