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International Journal of Economics & Management Sciences

.: Home > International Journal of Economics & Management Sciences > 2011 > Volume 1 Number 10 > Okogun O. A.*1 , Awoleye O.M. 2 and Siyanbola W.O. 3

Economic Value Of Ict Investment In Nigeria: Is It Commensurate?

Okogun O. A.*1 , Awoleye O.M. 2 and Siyanbola W.O. 3
*1 Corresponding author: National Centre for Technology Management, An Agency of the Federal Ministry of Science & Technology, Obafemi Awolowo University, Ile-Ife, Nigeria. 2 National Centre for Technology Management, An Agency of the Federal Ministry of Science & Technology, Obafemi Awolowo University, Ile-Ife, Nigeria. 3 National Centre for Technology Management, An Agency of the Federal Ministry of Science & Technology, Obafemi Awolowo University, Ile-Ife, Nigeria.
Abstract :

This paper explores the economic value of ICT investment in Nigeria. Data were gathered from secondary sources after which different statistical packages were used to extract relevant information. Investigation revealed that ICT investment was on the increase from 2001 when the telecoms industry in Nigeria got their liberalization. The empirical results suggest that ICT investment has a significant impact on Nigeria‘s economic growth during the period reviewed, suggesting good payoffs from the investment. R-squared result shows that a high proportion (95%) of total change in GDP is accounted by private investment in ICT, ICT contribution to GDP and number of subscribers. ICT investments made by the private sector seem to have contributed significantly to the country’s growth. However, in order to sustain economic growth leveraged against ICT, more concerted efforts need to be made to increase ICT investment diffusion in the country. Such initiatives will ensure that the value potential of ICT investments in the economy is maximized, due to greater ICT-enabled potential that can translate to economic growth. 

Keywords :
Private Investment, Unemployment, ICT

Date Deposited : 20 May 2016 19:15

Last Modified : 20 May 2016 19:15

Official URL: http://www.omicsonline.com/

Volume 1, Number 10, October 2011 , ISSN 2162-6359

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