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Information and Communication Technology Use and Firm Performance: Evidence from Lagos State, Nigeria

Authors: BINUYO Babatunde , BINUYO Adekunle , Kehinde Oso Osotimehin

Publication Type: Journal article

Journal: International Journal Of Latest Engineering And Management Research (ijlemr)

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Abstract

Against the backdrop of dwindling performance of manufacturing firms as evident in the retrenchment and folding up of many firms in Nigeria lately, The Manufacturing Association of Nigeria for example reported that in 2009, a total of 834 firms closed shop across the country out of which 214 were from Lagos State. This study was consequently undertaken to investigate the effect of Adoption of Information and Communication Technology solutions on the Performance of Manufacturing firms in Lagos State. The objectives of the study are to: identify the benefits of ICT adoption to manufacturing firms in Lagos State, identify the types of ICT solutions being employed by manufacturing firms in Lagos State and also to determine the effect of ICT adoption on Performance of Manufacturing firms in Lagos State. The study made use of primary data. 528 questionnaires were administered to the forty-four firms sampled for the studyout of which 494 were returned representing 94% response rate.The study found out that a strong relationship exists between the five explanatory variables (types of ICT solutions, need for ICT solutions, investment on ICT Solutions, effectiveness of use of ICT solutions, and benefits of ICT solutions.) and the dependent variable (Performance of Manufacturing Firms). This is evident from the value of the respective coefficients of the explanatory variable obtained from the estimated model which are as follows: Types of ICT Solutions (1.024), Need for ICT Solutions (1.071), Investment on ICT Solutions (0.821), Effective Use of ICT Solutions (1.511), and Benefits of ICT Solutions (0.636). According to the model, the Coefficient of Determination (R2) explained about 87.9% of the variations in the performance of manufacturing firms.The study concludes that ICT solutions have significant potential to considerably boost the performance of manufacturing firms when optimally utilized. Thus, managers of manufacturing firms should implement strategies to exploit its benefits to the fullest in the interest of improved organization performance

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BINUYO,B. BINUYO,A. Kehinde,O.O . (2019). Information and Communication Technology Use and Firm Performance: Evidence from Lagos State, Nigeria, 4 (), 10-10.

BINUYO,B. BINUYO,A. Kehinde,O.O . "Information and Communication Technology Use and Firm Performance: Evidence from Lagos State, Nigeria" 4, no (), (2019): 10-10.

BINUYO,B. and BINUYO,A. and Kehinde,O.O and . (2019). Information and Communication Technology Use and Firm Performance: Evidence from Lagos State, Nigeria, 4 (), pp10-10.

BINUYOB, BINUYOA, KehindeOO, . Information and Communication Technology Use and Firm Performance: Evidence from Lagos State, Nigeria. 2019, 4 ():10-10.

BINUYO,Babatunde , BINUYO,Adekunle , and Kehinde,Oso Osotimehin . "Information and Communication Technology Use and Firm Performance: Evidence from Lagos State, Nigeria", 4 . (2019) : 10-10.

B.Babatunde B.Adekunle & K.Oso Osotimehin , "Information and Communication Technology Use and Firm Performance: Evidence from Lagos State, Nigeria" vol.4, no., pp. 10-10, 2019.

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