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Information and Communication Technology Investment and Firmsâ€™ Performance in Lagos State

Authors: BINUYO Adekunle

Publication Type: Journal article

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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 Information and Communication Technology Investment on Firmsâ€™ Performance in Lagos State. The objectives of the study are to: determine the relationship between Investment in Information and Communication Technology and Performance of manufacturing firms in Lagos State., identify the major challenges confronting manufacturing firms in their adoption of Information and Communication Technology in Lagos State and also to establish the effects of ICT adoption on the personnel 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 study out of which 494 were returned representing 94% response rate. The study found out that a strong relationship exists between ICT investment and Performance of manufacturing firms studied. Furthermore, descriptive statistics revealed that major challenges confronting firms in their use of ICT solutions are: System Breakdown (38%), Expensive Maintenance Cost (37%),Fluctuating Service (21%), Poor Power supply (3%).The study concludes that ICT investment have significant potential to considerably boost the performance of manufacturing firms when optimally utilized. Thus, managers of manufacturing firms should progressively ploughed back appreciable fraction of realized profit for the purpose of investment in ICT.

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BINUYO,A. . (0000). Information and Communication Technology Investment and Firmsâ€™ Performance in Lagos State, 0 (), 0-0.

BINUYO,A. . "Information and Communication Technology Investment and Firmsâ€™ Performance in Lagos State" 0, no (), (0000): 0-0.

BINUYO,A. and . (0000). Information and Communication Technology Investment and Firmsâ€™ Performance in Lagos State, 0 (), pp0-0.

BINUYOA, . Information and Communication Technology Investment and Firmsâ€™ Performance in Lagos State. 0000, 0 ():0-0.

BINUYO,Adekunle , . "Information and Communication Technology Investment and Firmsâ€™ Performance in Lagos State", 0 . (0000) : 0-0.

B.Adekunle , "Information and Communication Technology Investment and Firmsâ€™ Performance in Lagos State" vol.0, no., pp. 0-0, 0000.

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