SIGNIFICANCE OF COMPUTER TO THE ECONOMIC GROWTH OF NIGERIA
(A
CASE STUDY OF DIAMOND BANK PLC)
CHAPTER I
INTRODUCTION
1.1 BACKGROUND
OF THE STUDY
The
modern day business environment is dynamic and complex, and they have been a
lot of technology developments, inventions of sophisticated equipment which as
a result of automation of the office saves plenty of time, energy and
information processing in the establishment or organization.
Computer is the most
effective and efficient machine used in processing information, this is why
computer is used mostly in offices today, because of the complexity and trends
in technological development and because of its challenges and diversities.
Computer
is so significant that is used in almost every field nationwide. Stair, JR
(1986), stated in his book that “Computer are used in almost every field and
profession to perform a large number of useful applications. In business, computers
are used by business organizations to transact business between one or more
other organizations. In banks, they use it to transfer money electronically
from one location to another in a very fast way.In the science field, taking
engineering for example, computers are helping to unlock the secret of our
universe. Likewise in hospitals where health care is adequately delivered, computers
are used to keep human system organs in shape. In Military, computers are used
to know locations and how to plan war strategies. With the help of experts who
have computer intelligence, several discoveries has been made in areas where no
previous knowledge/materials are known.Hence, to state the effects and benefit
from computer is of top priority in the society as a whole, since the emergence
of computer into the Nigeria society,
The
practice of professional administration has been improved which enables it to
have enhanced greatly the development of the Nigerian economy. Computer offers
the promise of fundamentally changing the lives of much of the world’s
population. In its various forms,
Computer affects many ofthe processes of government and business, how
individuals live, work and interact, and the quality of the natural and built
environment. The developmentof
internationally comparable computer statistics is essential for governments to
be able to adequately design, implement, monitor and evaluate computerpolicies
(Madueme 2010).
Computer
has now been accepted as one of the main driving force behind organizational
competitiveness in the present day business environment.
Presently, computer is having dramatic
influence on almost all areas of human activities and one of the areas of
economic activities in which this influenceis most manifest is the banking
sector. The banking industry is one of
the critical sectors of the economy which makes invaluable contributions to
thepace of economic growth and development of nations. However, this study
seeks to examine the impact of computer on the Nigeria economic growthand development.
Most developing nations including Nigeria have
embarked on various reforms that foster the use of computer in their economies.
Thesereforms tend to yield little or minimal benefits to economic growth and
development, especially when compared with the developed countries of theWorld
were Technologies advancement is known to impact fast rate of economic
development.
In Nigeria, policy on adoption of Information
and communication technologies was initiated in 1999, when the civilian regime
came into power of government. The operations of the licensed telecommunication
service providers in the country has created some well-felt macroeconomic
effects in terms of job creation, faster delivery services, reduced transport
costs, greater security and higher national output (Emmanuel and Adebayo 2011).
At
the wake of 2000, the federal government of Nigeria embarked on an aggressive
drive towards the provision of more efficient services in the nationthrough its
privatization and deregulation policies, the computer subsector. The policy
thrives led to the establishment of national telecommunicationpolicy in
December 2001. The policy, among other things, recognized the need for the
establishment of an enabling environment for deregulation andrapid expansion of
the telecommunication services in the country, the mission statement of the
government was to use computer for Education, Creationof wealth, Poverty
Eradication, Job Creation and Global competitiveness. The policy objective was
to develop globally competitive quality manpower in computer and related
disciplines. This entails developing a pool of computer engineers, scientists,
technicians and software developers. Consequently,attractive career
opportunities will emerge in addition to development of software’s and computer
components that can earn the nation some foreignexchange. The implementation of
computer policy led to the adoption of global system for Mobile-Communications
(GSM) and its related componentsin Nigeria.
1.2 STATEMENT
OF THE PROBLEM
Considering
the staggering benefits that are experienced through the significance of
computer to the economic growth of Nigeria, the growth of computer in Nigeria
is still limited compared to what is obtainable in developed countries; but due
to the numerous obstacle, their demand could not be adequately met.
Computers
are electronic devices in terms of rear definition. In actual sense, it is the
latest innovation in technology, computerized management system with a view to
reducing the benefit or otherwise in taking such a decision, this research work
is conducted to expose some of the dwelling factors that are laundering the
significance of computer to the economic growth of Nigeria. Some of these
obstacles laundering the computer (ICT) as significance to the economic growth
of Nigeria includes:-
v Epileptic
or Lack of Power Supply: Limited and unsteady power supply in the country which
has served as one of the problems laundering computer (Internet) growth in the
country.
v Poverty
and High Cost of Purchase: Lack of capital investment in order to purchase a
personal computer (PC). Ability of an organization or an individual not being
able to afford or own a personal computer (PC) or computer system of their own
has affect the significance of computer in the economy, they rather not waste their little income to
have them when they have their priority at stake, such as food, clothing and
shelter.
v High
Level of ICT Illiteracy: Illiteracy is a defect,’ says the white man’s adage, the
high rate of illiteracy in the country is another ugly trend that is hindering
the growth of computer use in the economy and this has contributed to the
decline in the use of this super facility.
1.3 RESEARCH
QUESTION
These
are the questions that must be answered in analyzing our problem. The research
study must seriously look and strive to provide answers to this asthey
practically serve as the skeletal framework to guide this research work. The
relevant question pertaining to this research is as follows;
(i)
What are the uses of computer system?
(ii)
What are the reasons for studying
computer in schools?
(iii)
What impact has computer made on
business operation?
(iv)
In what ways has computer contributed to
the development of Nigeria economy?
(v)
What problems do users in offices face
when using computers?
1.4 PURPOSE
OF THE STUDY
Since
the population of Nigeria increases year by year, so are the duties to be
performed by employees in different organization increase and the office
becomes more tedious day by day. In order to meet the ever demanding needs and
services of the general public, the study of this topic is important inorder to
know how computer has helped to boost the work and services of various
individuals and organizations.
Also
the general objectives of thisstudy is to analyze the impact of computer on the
Nigeria economic growth and development and the following are the specific
objectives:
(i) To identify ways by which computer can
contribute to economic growth and development.
(ii) To determine the factor limiting the use
of computer in all sectors of the Nigeria economy
(iii) To examine the impact of computer on the
Nigeria economic growth and development.
1.5 SIGNIFICANCE
OF THE STUDY
The
following are the significance of the study:
·
The outcome of this study will be a
useful guide to the government of Nigeria, policy makers and the general public
on how computer can beused as a tool for economic growth and development of
Nigeria.
·
This research will also serve as a
resources base to other scholars and researchers interested in carrying out
further research in this field subsequently, if applied will go to an extent to
provide new explanation to the topic.
·
This study is concerned with the way
computer has aided the development and growth of Nigeria`s economy in both
public and private organization.
·
The Study highlights the usefulness of
computer to the youth of these days and it will provide information on the
significance of computer in order to aidtheirdesire or interest to study it.
1.6 LIMITATIONS
OF STUDY
There
were some factors that placed limitations on this study, they are as follows:
(a) Poor response from the respondents.
(b) Financial Constraint: Is another limitation
to this work which is as a result of high cost of transportation fare to the
areas of study to gather data, combined with the cost of materials to carry
this work to conclusive end.
(c) It
also took great strength to convince the respondents that their responses to
the questions in the questionnaire will be treated with great confidentiality
and are purely academic
1.7 DELIMITATIONS
This
study is delimited to the significance of computer to the economic growth of
Nigeria (case study of Diamond bank Plc).
1.8 DEFINITION
OF TECHNICAL TERMS
b)
DATA: (Raw facts), data are symbols
or signals that are input, stored and processed by a computer, for output as
usable information.
c)
TELECOMMUNICATION: Is the
transmissionof signs, signal messages, writings images and sounds or
intelligence of any nature by wire, radio, optical or other electromagnetic
systems.
d)
SOFWARE: refers to a programor a set
of instructions and applications used to manage and control various functions
of a device such as a computer. Unlike hardware, which represents a physical
part of a device, software is virtual.
1.9 CASE
STUDY
HISTORY OF DIAMOND BANK
The Bank began as a private limited liability
company and was named Diamond Bank Plcin March, 21, 1991(the company was
incorporated on December 20, 1990). Ten years later, in February 2001, it
became a universal bank. In January 2005, following a highly successful private
placement share offer which substantiallyraised the bank’s equity base, Diamond
bank became a public limited company.
Since
the bank’s incorporation in December 1990, it has challenged the market
environment by introducing new products, innovative technology and setting new
benchmarks through international standards.Today, Diamond bank is best placed
to respond to changing lifestyles and is leading the digital transformation in
response to these societal shifts. For example, Diamond mobile is Africa’s
leading banking application and the first with touch ID. Delivering an enhanced
customer experience is fundamental to its proposition. In May 2005, the bank
was listed on the Nigeria Stock Exchange. Moreover, in January 2008, itsGlobal
Depositary receipts (GDR) was listed on the professional securities market of
the London stock exchange. The first bank in Africa to record thatfeat. Today, it is one of the leading banks in
Nigeria in respect for its excellent services delivery, driving by innovations
and operating onthe most advanced banking technology platform in the market.
And like a Diamond, our strength makes us even more valued and valuable. It has
won several awards including the prestigious “Most improved Bank of the year”
and also “Best bank in mergers and Acquisition”.
It
has retained excellent banking relationships with the a number of well-known
international banks, allowing us to provide a bouquet of world classbanking
services to suit the business needs of our clients. These international banking
partners include Citibank; HSBC Bank; ANZ Banking groups;ING BHF Bank AG;
Standard Chartered Bank; Bolognaise Bank S.A; Deutsche Bank; Commerzbank; and
Nordea Bank Plc. In 2008, to ensure weGrow with the needs of our customers, we
streamlined our operations into three distinct strategic business segments:
Retail banking, Corporate Banking, and public sector.
It
continues to develop and to build on its core competencies, by continually
cutting from the rough, we have improved our services andour banking
facilities. Like cutting from a rough gem to create a diamond of the finest
quality, we are proud to have become a gem of a Bank (Google).
SIGNIFICANCE OF COMPUTER TO THE ECONOMIC GROWTH OF NIGERIA (A CASE STUDY OF DIAMOND BANK PLC)
This is complete chapter one.....