GLOBALISATION AND THE NIGERIAN BUSINESS CLIMATE: A MANUFACTURING PERSPECTIVE

  • JOSEPH ELANG ODEY OSHI Department of Management, Faculty of Management Sciences, University of Port Harcourt, Choba, Nigeria
  • EBELE MARY ONWUKA Department of Business Administration, Faculty of Management Sciences, Nnamdi Azikiwe University, Awka, Nigeria
  • NKIRU PEACE NWAKOBY Department of Entrepreneurship Studies, Faculty of Management Sciences, Nnamdi Azikiwe University, Awka, Nigeria
Keywords: Globalization, Business Climate, Manufacturing Sector, Productivity, Information and Communication Technology

Abstract

This study is an attempt to evaluate the effect of globalization on business climate of Nigeria: A study of the Nigerian manufacturing sector. The study’s objective is to determine the effect of information and communication technology (ICT) on the productivity of the manufacturing sector. The study is anchored on the system theory. The descriptive research design was adopted for this work. Secondary data were majorly used and the ordinary least square method of regression was used to test significant relationship of variable. The result reveals that information communication and technology has significant effect on business environment. 90.9 percent relationship was found to exist between globalization and business climate. The study concludes that it is in the interest of manufacturing sector to consistently search for opportunities that would enable them acquire and apply actionable understanding, proficiency and imagination to meet constantly, varying needs and demands of customers. The paper recommends that as a measure of enhancing human resource development, there is need for business owners to intensify effort on investing on information and communication technology (ICT) skill acquisition as a means of promoting productivity of the manufacturing sector. More so, Government on their part should come up with and enforce policies that will encourage financial institutions in partnering with the manufacturing sector in order to boost our economy.

Published
2021-06-30
Section
Articles