The International Monetary Fund says that subsidies, tax incentive infrastructure development and protective regulations will help fast track growth of Industries in Nigeria and other emerging market economies.
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In a recent report titled industrial policy and the growth strategy, the Washington Baseline noted that implementing industrial policy as part of their growth strategy countries are faced with competing objectives such as securing sustainable economic growth, maintaining financial and fiscal
stability and establishing national champions.
It also noted that establishing national champions is often a distinct objective of national growth strategy aimed at globally competitive companies ensuring economic growth and security that’s part of the concerns that revival of Industry policy shows no signs of slowing down
economists worry that picking winners and losers can lead to Market distortion and inefficiency in allocation of resources.
