Abstract
This research investigates determinants of industrial output among selected West Africa
Monetary Zone economies, specifically Nigeria, Ghana, Gambia and Sierra Leone. The
research examined the impact of key macroeconomic variables such as labour force
participation, real effective exchange rate, GDP per capita, gross fixed capital formation,
governance index and foreign direct investment on industrial output in the selected West Africa
Monetary Zone economies between 1990-2023. The research used fixed-effect panel data
regression to reveal that per capita income, foreign direct investment, exchange rate, and
labour force participation significantly impact industrial output within the selected WAMZ
economies. The research recommends that WAMZ countries should implement robust
monetary policies to stabilize exchange rate. Given the significant relationship between the
labour force and industrial output, the WAMZ government should invest in building the
capacity of the labour force in line with the emerging industrial sectors to drive sustained
growth and productivity. There is a need to foster partnerships between educational
institutions and industrial sectors to drive skills transfer and align curriculum with the
emerging industrial skills needed to boost industrial output. The governments of WAMZ
economies should adopt industrial policies that will diversify industrial base of their respective
economies into value-added industries.