The Impact Of Computerization In The Growth Of Nigerian Economy (A Case Study Of Solive Oil Manufacturing Company Nigeria Limited)
In Nigeria, provision of public infrastructure is grossly inadequate and poor. Necessary telecommunication services, as public infrastructure, needed for meaningful investment are lacking and, where found, are very costly. Teledensity in Nigeria is still very low.
The introduction of the GSM in Nigeria was to expand the teledensity in the country and to make telephone services cheaper and accessible to the common person as it had been introduced in some African countries like South Africa, Ghana, and Benin Republic among others. GSM is ICT based telecommunication that can contribute to the growth and development of any nation.
The objectives of this work were to examine the impact of ICT on the Nigerian economic growth and development, to identify ways by which ICT can contribute to economic growth and development, and to determine the factor limiting the use of ICT in all sectors of the Nigerian economy. Research questions and hypothesis were analysed in other to achieve the specified objectives after which recommendations were made.
Nigeria, like most developing countries is an “Information poor” country. Most of Nigeria’s wealth and power comes from the control of physical assets-land, oil, iron steel, coal e.t.c But in the 21st century, this cannot continue to happen. The main source of value and competitive advantage in the new economy is human and intellectual capital. With a present population of about 150 million people, Nigeria in theory has the capacity to make a successful transition into a truly knowledge driven economy.
1.1 Details of the Proposed Study
For the purpose of this report or rather, project, the term “Information technology” shall be adopted to include all computer based activities that derive from the convergent disciplines of microelectronics, computing and telecommunications and that have led to the reorganization of the processes of production, distribution and circulation in Nigerian society.
With Solive oil manufacturing company Nigeria limited, one of such production companies specialized in oil production will have to take note that exciting trends are sweeping across the world. In advanced economics “knowledge” is fast becoming a strategic asset for economic development. Technological advances and globalization are gathering pace. Advances in information and communication technology are occurring on a tremendous scale and every organization looking to improve with great innovation must key in.
1.2 Enumeration / Problem Associated with the Case Study
The problem associated with Solive oil manufacturing company is such that should not be taken lightly. According to one of the staffs interviewed, most of problems are caused by most of problems are caused by mismanagement of funds. This has become a general problem ruling in the Nigeria society today, beginning from the federal government down to the private sector. If Nigerian economy is to improve, the management must act with strict polices such that would put a check to every activity and misuse of company funds.
Other problems associated with the case study are listed below:
- Inadequate policies that would put a check to activities on site and on management as well,
- Lack of technical know-how: in the 21st century where computers are used to make jobs easier and faster, many of the staffs has not the knowledge to operate and techniques to work in such fields.
- Inadequate training of employee
- Inadequate safety kits and training
All of which sum up a great deal of let down in production and improvement in strategies of work. Without taken a good look into these problems, the Nigerian economy will grow.
1.3 Purpose of the Study
The purpose of the study hovers around identifying all or some of the problems associated with information technology and communication in Solive oil manufacturing industry as to the growth of Nigeria’s economy, and seeking ways to change this problems so as to improve the country’s economy, since ITC adoption is one of the key factors fueling economic and community development both in the urban and rural areas of the country.
1.4 Research Questions on the Study
To improve on the poor situation of the Nigerian economy using Solive oil as a case study, one needs to ask oneself several questions some of which are:
- What is meant by economy of a country?
- What is the significance of a good economy?
- How can one affect an economy positively?
- What is information communication and technology?
Answers to the Above Questions
What is meant be economy of a country?
The economy of a country is meant by the relationship between production, trade and the supply of money on a particular country.
What is the significance of a good economy?
The significance of a good economy is that there would be a better life in the aspect of low cost of living.
How can one affect an economy positively?
An economy can be affected positively if one can detect the cause of its economic problems. Most economic problems or a better economy is mostly affected by its small scale business sector.
What is information communication and Technology?
Information communication and Technology is defined in the document “Interactive Education: An Information and Communication Technologies Strategy for Schools” Ministry of Education, 1998) as: “Information Technology (IT) is the term used to describe the items of equipment (hard ware) and computer programs (software) that allows us to access, retrieve, store, organize, manipulate and present information by electronic means.
Communication Technology (IT) is the term used to describe telecommunications equipment through which information can be sought and accessed.
1.5 Importance of the Research
Nigeria has probably taken care of the greatest political hurdle facing it since independence by putting in place a democratically elected government. However, the time is now ripe to shift emphasis onto something equally important. To bring lasting peace, economic freedom and prosperity to its people.
Nigeria needs a change of direction. The forces of change outside Nigeria are drawing the need for change within it. Therefore to maintain itself on a pace with the test of the world and to be able to compete successfully in the fast moving world economy, Nigeria has to radically reform itself.
1.6 Range of the Study
The range of the study includes all aspects of economic production down to the educational sector, industrial sector, agriculture, geography, commerce and industry and other aspects including the development of the rural and improvement on urban areas of the country.
The range of study needed to be wide because unlike UK and US, Nigeria is far behind.
1.7 Limitation of the Study
The project work was limited greatly by the following factors:
The time available to carryout this cumbersome project was short as a result of a perfect work was hundred but the result and achievement of the work was commendable.
To carryout a project this type, money is required, which was found difficult to raise at some point of the research work.
Inadequacy of information:
The management of Solive Oil Manufacturing company were not cooperative, thereby making the gathering of information on the company difficult.
Findings, Conclusion and Recommendation
This chapter summarizes the findings on the impact of computerization in the growth of nigerian economy, Solive Oil Manufacturing Company Nigeria Limited as case study. The chapter consists of summary of the study, conclusions, and recommendations.
5.2 Summary of the Study
In this study, our focus was on the impact of computerization in the growth of nigerian economy, Solive Oil Manufacturing Company Nigeria Limited as case study. The purpose of the study hovers around identifying all or some of the problems associated with information technology and communication in Solive oil manufacturing industry as to the growth of Nigeria’s economy, and seeking ways to change this problems so as to improve the country’s economy, since ITC adoption is one of the key factors fueling economic and community development both in the urban and rural areas of the country.
The study adopted the survey research design and randomly enrolled participants in the study. A total of 54 responses were validated from the enrolled participants where all respondent are staff of Solive Oil Manufacturing Company Nigeria Limited.
With respect to the analysis and the findings of this study, the following conclusions emerged;
ICT has impacted on different sectors of the Nigerian economy ICT provides economic opportunities to both urban and rural populations. One common contribution is that it increases productivity and makes the market work more efficiently, although the magnitude of the impact on economic growth is likely to be different.
Based on the findings the researcher recommends that;
- The FGN should allocate more funds for the realization of an ICT driven Nigeria.
- The provision of cheaper Internet facility can be achieved with the collaboration with the private sector (Telecommunication Companies)
- Development of a knowledge base with developed ICT driven economies, thus the promotion of indigenous ICT products and services which can be exported to other countries.
- Develop an ICT masterplan for Nigeria
- Training and retraining of Staff of the ICT Regulation Agencies
- Encourage youth to go into ICT by creating an enabling environment.
- Research on ICT driven economy with the collaboration of the Academics.
- The application of ICT services in all sectors of the country thus promoting transparency and accountability
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