INFORMATION COMMUNICATION TECHNOLOGY IMPLEMENTATION AND FINANCIAL PERFORMANCE OF PAINT MANUFACTURING FIRMS: EXPERIENCE FROM NIGERIA

Abstract

Technology Usage has become a necessity for existence in today’s industrial business environment and in light of this, effective implementation of ICT in the Paint industry is expected to boost performance and therefore worthy of exploration. This study examined the relationship between ICT Implementation and performance of selected listed paint manufacturing firms in Nigeria. Secondary data were employed. Secondary data covering a period of 2008-2019 were collected from the annual report of the selected Paint industry in Nigeria. The study covered all listed manufacturing Paint companies operating and registered with Lagos chamber of commerce and industry. Seven out of Fourteen (14) manufacturing Paint companies registered with Lagos chamber of commerce and industry as at 2019 was purposively selected. Data collected were analysed through the use of descriptive statistics (Table, percentage, mean, frequencies and standard deviation). The results of Correlation analysis showed a significant relationship between ICT implementation and financial performance of paint manufacturing firms. The study concluded that there is significant relationship between ICT implementation and Performance of selected paint manufacturing firms in Nigeria. In view of the above findings it is recommended that manufacturing paint firm should put more effort by developing mechanism that will strengthens full implementation of Technology.