Problem of industrialization in West Africa

Shortage of Capital: Shortage of investment capital has handicapped the process of industrialization in West Africa. This is so because income per capital is low. Therefore, savings and investment are equally low. Investment by government, even during the  old days of oil boom, was financed largely with foreign loans which were not easy to obtain.
Poor Infrastructure: Rapid industrialization requires an efficient system of infrastructure such as railways, docks, and regular supplies of water and electricity. Without these, there can be no efficient production.
Shortage of Skilled Manpower: Although there is an abundant supply of unskilled labour, there is a serious shortage of skilled manpower such as doctors, engineers, architects, surveyors, experienced managers, etc.
Underdevelopment of Agriculture: In the past, particularly after the extensive exploration of mineral oil, there has been a substantial decline in agricultural production due to general neglect. The result has been inadequate production of food crop leading to expanded programmes of food importation.
Limited Domestic Market: Market for many manufactured products is indeed very small. In Nigeria, this nature of market is less because of population but more in terms of the relative poverty of the masses.
Excessive Reliance on Foreign Technology: Almost all machinery used in West Africa industries and in many cases the personnel to operate them are imported from other countries,while in some cases efforts are made to train local personnel to operate these machinery.
Excessive Dependence Upon Foreign Aids and Partners: Another serious factor that has retarded the rate of industrialization is West Africa over dependence upon foreign capital either in terms of foreign investment or in terms of foreign borrowing.
Unstable Political System: Most countries in West Africa, have witnessed rather rapid political changes since their independence. An unstable political system discourage genuine foreign investors. It also does not allow for continuity of industrial policies. All these have tended to hamper the rapid development of industries in the sub region.
Lack of Dedicated Leadership: Associated with the instability of the political system is the absence of dedicated leaders committed to the pursuance of progress for the people.