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Technology is one of the major factors that influence economic growth in the world and Lagos state is among the top five largest economy in Africa but still, cannot boast of development both economically and technologically. It is against this problem that the researcher intends to examine the challenges and prospects of technology and economic development in Lagos Nigeria (2011-2018). The study entails the conceptual clarification which include; concept of technology; concept of economic development; cause of technological backwardness in Nigeria and recognizing the factors affecting Nigeria Technological growth and development. The theoretical background include the Ramanathan Technometrics Theory. The study also entails some empirical review based on the research topic of the study. The study used the descriptive survey design. The area of population of the study is Ikeja which is the capital of Lagos state. The study used the Taro Yamane to determine the sample unit the will be accurate for the study. The questionnaire was shared to 150 people in Ikeja Local government area in Lgaos State. The study used the table and percentage for the descriptive analysis of the study and the inferential statistics was analysed using the Chi-square Method. The result of the hypothesis tested depicted the there is significant relationship between technology development and economic development in Lagos State having that chi-square stats 937.7 than the critical value 5.991. The study concluded that the role of technology on economic development in Lagos state should be increased through labor productivity, Cost minimization in the operations of organizations, advancement in infrastructure, and provision of better living standard for people.The study recommends that he country needs to focus its attention on the positive development, access and implementation of ICT both in the rural areas where majority of the poor people reside and in the urban areas.
CHAPTER ONE INTRODUCTION 1.1 Background to the Study
Technology is one of the major factors that influence economic growth. Technology development is commonly viewed as a facilitator for economic development, this is because it offers the essential support for a change in all the important sectors of the economy, most particularly the agricultural and industrial sectors.
Therefore, it is unarguably the major source of change, i.e. the innovations and variations required for improving production methods needed to boost growth and development. Technology has a wide range of definitions; nonetheless, the term is traceable to “techne” which means activities by which man seeks to adapt to his environment (Onipede 2010). Hornby (2002) defined “technology as a scientific knowledge that is used in practical ways, especially in the designing of new machines, machinery,and equipment”. Onipede (2010 cited Titanyi (1985), is of the opinion that technology represent a very powerful instrument that bring about change assists in the economic, social, and cultural development of people’ such that the dominance of the rich countries in terms of their living standards, better health services, and educational facilities are generally attributed to the breathtaking advances in science and technology which has taken place in the industrialized countries during the last two hundred years.
Olaoye (1990) explained technology to mean the conversion of a theoretical idea to a practical skill in order to produce the objects of one’s need. Development, on his own part, is the continuous increase of a skill to become more advanced or the process of manufacturing a more advanced product (Hornby 2002). Consequently, technology development is the transformation of ideas to practical skills, which are concerned with the production and transformation of raw materials into finished goods. Onipede (2003) is of the opinion that technology development relates to development observed through industrial actions; he stated further that these activities involved the processing of manufacturing goods on a large scale using extensive plant and equipment which were all products of technology.
Technology can serve as a tool for economic development but the challenge there is that, the concepts of both innovation and Economic development covers several aspects, therefore, the role of technology in improving the lives of people cannot be underestimated, most people are buying goods and services online, sending messages across the globe, sending emails to donor agencies for supporting (Ebeling, 2003). The network technology had been one of the main problems that affect development in Nigeria since 1960, and the connectivity and networking are some of the fundamental setbacks that the developing companies in Africa are facing since the Internet boom of the early 1990s (Moodley, 2002 & 2005).
Development policies tries to change the nature of the economic development instead of limiting it so it could help find new sources and alternatives to achieve our goals, after technology enable us to use and reuse what we have left in an efficient manner. Development tools seeks to achieve technological changes such as recycling, minimizing waste, materials substitution, changing process of production, controlling pollution and better efficient resources use. The Policies to encourage technological development to achieve economic development must take into consideration the environmental constraints and the strategies diversity. The technology development policies can play an integrated role with industrial policies and environmental policies; also they can affect urban planning, employment, and vocational training policies. In addition, it is able to enhance the anticipation of future technologies. However, there are some factors that are considered weaklings in the chain of the technology development process that conducive to Economic development such as human resource and skill management, especially the development of skills, and the mobility of R&D personnel and the capacity to communicate (Patris, et al. 2001).
1.2 Statement of the Problem
Lagos is arguably the most economically important state in Nigeria and also the Nation’s largest urban area. The Europeans came to Nigeria to exploit and develop Nigeria and left a trail of economic development that Nigeria can build on, most especially in some states and cities like Lagos state. Due to it’s technological advancement, Lagos is one of the most populous city and developed in the whole of Africa. Ekundayo (2013) rate Lagos state among top five largest economy in Africa “if Lagos is a country she would be the third largest economy in Africa”, but with all this the country cannot boast of development both economically and technological,
Nigeria cannot even exploit her natural resources except with the help of foreigners who will normally provide the technology and expertise to undertake the exploitation of her natural resources, mechanize her agriculture product i.e. crude implements are still used for agricultural production activities by a large percentage of those who are involved in agricultural production, depends on other countries for the supply of its spare parts for industrial machinery, exports raw materials to other countries as against finished products, unable to produce her own military hardware with which to defend herself if the need arises. it is against this problem that the researcher intends to examine the challenges and the prospect of technology and economic development in Lagos Nigeria from 2011-2018.
1.3 Objectives of the Study
The main objectives of this study are to find out the challenges and the prospect of technology and economic development in Lagos Nigeria, specifically, the study intends to:
1. examine the relationship between technology and economic development in Lagos state;
- determine the impact of technology on economic development in Lagos state;
3. Investigate the level of technology and economic development in Lagos state;
- find out the challenges and the prospect of technological development in Lagos state and Nigeria as a whole; and
- Establish how technological development can affect and lead to economic development in Nigeria.
1.4 Research Questions
- Is there any relationship between technology and economic development in Lagos state?
- What is the role of technology on economic development in Lagos state?
- What is the level of technology and economic development in Lagos state?
- What are the challenges and the prospect of technological development in Lagos state and Nigeria as a whole?
- How can technological development affect and lead to economic development in Nigeria?
1.5 Significance of the Study
This research work will be of great relevance not to Lagos state alone but to the whole Nation, the findings of this research will create awareness for Nigerian on how to improve technologically, also will expose the level Nigeria is in term of technology and economic development.
This research work will also expose the government and other stakeholders to the backwardness Nigeria is experiencing over the years in term of development both technologically and economically so that policy on how to develop Nigeria can be formulated.
1.6 Scope of the Study
This research work was conducted in Lagos state, concept and literature on technology and economic development will be reviewed. Data was also gathered from the general public on the issue of economic and technological development in Ikeja the capital of Lagos state. Lagos was chosen for this study because it is arguably the most economically important state of the country and the nation's largest urban area. It is a major financial centre and would be the fifth largest economy in Africa, if it were a country.
This study employed both primary and secondary sources of gathering data. However, primary sources was largely employed for the study. This quantitative form of research is needed so as to get first had information from residents of Lagos State.
1.8 Delimitation of the Study
Finance for the general research work was a challenge during the course of study. Correspondents also might not be able to complete or willing to submit the questionnaires given to them.
However, it is believed that these constraints was worked on by making the best use of the available materials and spending more than the necessary time in the research work. Therefore, it is strongly believed that despite this constraint, its effect on this research report was minimal, thus, making the objective and significance of the study achievable.
1.9 Definition of Terms
Technology: refers to methods, systems, and devices which are the result of scientific knowledge being used for practical purposes.
Economic Development: the growth of the standard of living of a nation’s people from a low-income (poor) economy to a high-income (rich) economy. When the local quality of life is improved, there is more economic development. Economic development is the increase in National Income (GDP) and total eradication of inequality and a low percentage of unemployment and poverty.
Prospect: the possibility or likelihood of some future event occurring