1.1 BACKGROUND OF THE STUDY
Industrialization is a major development initiative that brings about massive development to a community be it rural or urban. With establishment of an industry the people stand to benefit in the way jobs are created security is provided, infrastructural development arrives and there is a general improvement in the welfare of the people. In the same vein, the community stand at a risk in being affected in numerous other ways. The pollution in the form of limestone dust, has made the land to be in a state where its cultivation for agricultural purpose has become impossible. The dust is seen on trees and grasses around the factory and the fact that grasses are not greenish i.e. a sign of good condition is an indication that cropping activities would not be fruitful.
Government policy is another important factor impacting on the industrial development of Iseyin Town, Oyo State. Certain government policies like privatization of government owned properties may bring about massive retrenchment of workers. This was the case when the Oyo Cement Company was privatized to the Dangote Group of companies. The new management opted to import labour from other states thereby neglecting the people who were employed by the former administrations. This affected the workers who were owed heavily and had to cope with being unemployed. Corruption affects the industrial development of Iseyin town heavily to officials of companies often syphon finds meant for development of the companies. Oyo Cement Company was bankrupted by poor management by indigenes of the state. Company cars, housing properties shares have been sold for personal use by selfish administrators.
Industrialization is widely recognized as a key driver of economic growth and development, particularly in developing countries such as Nigeria. It is expected to stimulate employment, improve infrastructure, and enhance the standard of living, especially in rural communities. However, despite various industrial activities and policies aimed at promoting rural development, many rural areas continue to experience limited socio-economic progress.
In Iseyin, Oyo State, industrialization has taken place to some extent, yet its impact on rural development remains unclear and, in some cases, questionable. While some industries may have contributed to job creation and economic activities, issues such as unemployment, inadequate infrastructure, environmental degradation, and uneven distribution of benefits persist within the community.
Furthermore, there is a growing concern that industrialization in the area may not be effectively integrated with local development needs, leading to a mismatch between industrial growth and improvements in the welfare of rural residents. Many residents still face challenges related to poverty, limited access to basic amenities, and low income levels, raising questions about the actual contribution of industrialization to rural transformation.
Given these challenges, there is a need to critically examine the extent to which industrialization has influenced rural development in Iseyin. This study therefore seeks to assess whether industrial activities have significantly improved the socio-economic conditions of the people or whether the expected benefits of industrialization have not been fully realized.
1.3 Objectives of the Study
The ultimate objectives of this study are:
i. To determine the benefits of industrialization to the Iseyin Town of Oyo State.
ii. To find out how lives of people living in Iseyin town of Oyo State can be improved through industrialization.
iii. To find out why Iseyin town of Oyo State is not yet industrialized.
iv. To highlight the methods of encouraging industrialization in Iseyin town of Oyo State
1.4 Research Questions
i. Will there be a significant difference in the employment opportunities available when Iseyin town of Oyo State is industrialized.
ii. Will industrialization improve the lives of people living in Iseyin town of Oyo State?
1. What are the factors militating against rural development especially in industrial development
2. Will industrial development be of any important to the rural area?
3. Can industrialization promote human and materials development in rural area?
1.5 SIGNIFICANCE OF THE STUDY
This study is beneficial to the society investor rural dweller and to the researcher the study has expanded our knowledge it has increase our research skill beside the above was conducted in the department of business administration that the study would be of immense important to students who may wish on to conduct a future research on the subject matter it would serve as a efficiencies materials coming on the side of the rural dweller it will help in appreciating the department of natural resource available in rural setting is develop through industrialization process it will bridge the gap in rural urban migration.
Finally the society as a whole stand to benefit from the study. The society is drawn from rural setting developing rural setting implies developing the society the implication being that the society standard of living would in prove employment will be generated and investment created means while policy maker through this study would understand why it necessary to promote industrial project they would also understand that the leadership efforts are needed to pioneer industrialization process.
1.6 SCOPE AND LIMITATION OF THE STUDY
The scope of study is the research boundary the scope is on rural development how it can be managed through industrialization process is to identify factors militating the provision of rural infrastructures and enabling environment for business to flourish. Hardly would a research be conducted without any constraint in a country such as ours where a beaurocarcy act has constraint in the flow of information and where there is inaccurate data and statistics there is really have to be problems.
LACK OF ADEQUATE DATA: Adequate data have not been gathered about rural industrialization no do we have enough statistics about it.
FINANCIAL CONSTRAINT: The rising cost of living has complicated the cost of embarking on a thorough research work it is too costly to embark through research work.
PROBLEMS SECRECY: Most information for public consumptions is some time tagged secret there by restraining our ability to have all the necessary information or data needled to the subject matters.
1.7 Definition of Terms
The following terminologies and abbreviations used in the study are explained below.
Industrialization: Is the period of social and economic change that transforms a human group from an agrarian society into an industrial one, involving the extensive re-organization of an economy for the purpose of manufacturing.
Development: Refers to the physical quality of life index.
Rural area: This connotes the interior or remote parts of the local government, which the central government wants to develop by creating local government.
Small Scale Industry: These are those whose annual turnover does not exceed N200,000,000 or capital expenditure does not exceed N200,000,000.(C B N).
Cooperative: This is an autonomous association of persons united voluntarily to meet their common economic, social and cultural needs and aspirations through a jointly owned and democratically-controlled enterprise (ICA1995).
Local Government: the third tier of government with in the state charged with the responsibility of development and administration of people at the grass root level. (Ejeakanonu,2007)
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