POLICIES OF IMPORT SUBSTITUTION IN NIGERIA
Introduction In layman's terms, import substitution meant substituting domestic production for international imports. "Reducing dependency on imported commodities by substituting locally produced ones" was the goal" (Osei-Hwedie, 2005, p1). Imported commodities from industrialized economies were to be skipped in favor of those produced domestically under the import substitution industrialization strategy. The import substitution industrialization(ISI) main goal was to help the local market develop to the point of self-sufficiency in ...
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