The most popularly adopted industrialization strategy in West Africa is?

Assessment: JAMB UTME - Economics - 1993 Subject: Economics

Question 1 Report

The most popularly adopted industrialization strategy in West Africa is?

Answer Details
The most popularly adopted industrialization strategy in West Africa is import substitution. This strategy aims to produce domestically what would have been imported in order to reduce dependence on foreign goods and increase domestic production. This is achieved by imposing tariffs and other trade barriers on imported goods, making them more expensive than domestic goods, and thereby encouraging local production. The aim is to develop domestic industries that can compete globally by first satisfying local demand.
Read lesson note on Industry And Industrialization (JAMB)
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