1.1-     Research Objectives:

  • To understand the relationship between technology and the economic activities.
  • Togaugethe relationship strength between thetechnological advancementand economic growth.
  • To investigate the relationship between technological risk and economicperformance.
  • To highlight the key factors involved in the technologicalimplementationin different sectors of the Nigerian


1.2-     Research Justification:

Technology has taken the strong hold of the global markets.It has penetrated in the different markets, changing the overall game and thescenario, leading to high economicactivities and the ultimate performance.

However, such technological advancementhasalso raised some of the concerns such as issuesassociatedwith nationalsecurity. Leakage of information and data from one boundary to another has also become eminent, thusdeveloping the necessity for understanding the intensity of technologicalrisk and its impact on the economies, leading to a clearunderstanding of the impost of technology andalsodeveloping the counter strategy to deal with the risk.

1.3-     Research Limitation:

  1. The timeis limited to perform the particular research, since itposits the certain restrictions in performing the in-depth analysis of the given topic.
  2. The limited toolsandtheunderstanding of thesoftware at currentlevel offers the basic results and summaries of the findings.
  3. The Human resource to performthe research is limited along with the sample size.




2- Literature Review

Technology is driving the world towards a converging commonality.From the beginning, technology has been one of the major factors in the human development.It can be seen in the last 200 yearsthat the technological changes haveaffected the economic growth leading to the increasein the production of new types of goods andservices.

According to ((Ajibola I. O., 2015)), the technological advancementhas improved the machinesleading to greater income generation.Moreover, according to ((Arat, 1988)), IT is the modern handling of the information and the transfer of information that help in expediting the process andthusimproving the overall system.

It has been found that the emergence of technology hashelped the industry in thereductionof thecost of the operationssuch as, the expedited production, efficientoperations and also the reduction of unnecessaryproduction phases, thus improving the cost management structure.( (Arowolo, 2010)),

According to ((Boodhoo, 2009)),all these factors and improvement in the technologyhasallowed the industries to penetrate more in the giveneconomy, increasing  the economiccycle with improved trading,efficiency and growth.Also, it has improved the financialinstitutionsby saving time and improving the services,education andthe communication networks within the firms.

Apart from this, the improvement in IT has also enhanced the healthcare deliveryleading to improvedhealthcare service making the economy to attractthe FDI in terms of healthcare, resulting inthe growth of the country.


Technology in Banking:

The Nigerians banks have started facing the increased demand for customer deposits, which has made the banks to improvisethe servicelevel through increased technologicalimplementation in banking to offera level of customer service.

According to ( (Chase-Dunn, 2000)), proximity is not the majorconcern of the customer to look for the task instead, they are looking for improved services andefficiency in moneymanagementespecially in the real time.Such demand and improved economicactivityalong with globalization have integrated the global bankingandfinancialsystems through technology.

Hence an increasing rate has been found in the Nigerian banking sector.Moreover, according to ( (Ajibola, 2015)), the customers have initiatedassorting the quality level of services in banking bythe online presence and the number of featuresthe bankoffersto the clientthrough online services……………

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