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1992 First Half Year Report On Industrial Core Projects, E. I. K. Sule, C. M. Anyanwu

Economic and Financial Review

The Industrial Core Projects are the basic capital intensity industries deliberately established by the Federal Government to provide material inputs for downstream industries. They include steel plants, refineries and petrochemical plants, paper mills, fertilizer, marble, sugar and cement companies. During the first half of 1992, the performance of most of the Industrial Core Projects was generally unsatisfactory with the exception of petroleum-based plants. Most of them operated low capacities due largely to inadequate funding. Other constraining factors were high cost of production due in part to poor infrastructural facilities and in part to a depreciated currency and stiff competition from …