Re-Engineering Nigeria Economy through Fourth Industrial Revolution: A Case of Agro-Allied Firms in Nigeria

  • Onyeizugbe Chinedu Uzochukwu Unizik Business School, Nnamdi Azikiwe University, Nigeria.
  • Nnadi Tochukwu Alloysius Unizik Business School, Nnamdi Azikiwe University, Nigeria.
  • Enaini Stella Olohi Department of Business Administration, Auchi Federal Polytechnic, Nigeria.

Abstract

It is a known fact that all the efforts put in place over the years to industrialize the Nigerian economy have not yielded the desired result. Because industrial revolution does not wait for any country, Nigeria Nation is not well positioned for the fourth industrial revolution. It is in this view that the study adopted ex-post-facto research design to examine re-engineering Nigeria economy through forth industrial revolution from 2009 – 2019. The multistage sampling technique was adopted to limit the scope of the study. Data collected were obtained from the secondary source and analyzed using the ordinary least-square (OLS) method. The findings revealed that social platforms for businesses have a positive and significant impact on the gross domestic product of the country. The study concluded that efforts should be made in changing existing system of operation and embracing social media platforms in order to achieve business technological advancement especially within the agro-allied sector which has potentials of increasing the nation’s economy. This study recommended among others that the government of Nigeria should consider indebt change in their system of operation so as to encourage new media network building among various sectors in the country and ensure industrial revolution most especially in the agricultural sector.
Keywords: Re-engineering, Fourth industrial revolution, Social media platform networking, GDP, Import Substitution Industrialization Theory.
Citations
How to Cite
Uzochukwu, O. C., Alloysius, N., & Olohi, E. (2019, September 18). Re-Engineering Nigeria Economy through Fourth Industrial Revolution: A Case of Agro-Allied Firms in Nigeria. International Journal of Applied Economics, Finance and Accounting, 5(1), 14-30. https://doi.org/https://doi.org/10.33094/8.2017.2019.51.14.30
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