THE IMPACT OF IKEJA COMPUTER VILLAGE TO THE ECONOMIC DEVELOPMENT OF IKEJA LOCAL GOVERNMENT AREA.

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THE IMPACT OF IKEJA COMPUTER VILLAGE TO THE ECONOMIC DEVELOPMENT OF IKEJA LOCAL GOVERNMENT AREA.

ABSTRACT

The Computer village market located in the heart of Ikeja in Lagos State is, arguably, the largest Computer market in Africa today with daily patronage from all over the country. Nigeria has seen remarkable economic growth in recent years, linked to a potentially transformative urbanisation process. The key issue of why high rates of economic growth in recent years have not been translated in Ikeja Computer village into real improvements in economic opportunity, employment creation, livelihood provision and poverty reduction – is, however, as yet largely unaddressed, as is the contribution of infrastructural investments and improvements to the Computer village in Ikeja. In the course of this research work, the use of questionnaire was employed. The research in this report aims to contribute to a better understanding of urban economic development in Ikeja.

CHAPTER ONE

1.0     INTRODUCTION

1.1     BACKGROUND OF STUDY

Entrepreneurship has been identified as the economic driver of a nation and reflects negatively on the adopted mono-economy of Nigeria, whose dependence on oil has constructively built this image rather than attaining its multi-diversification in other sectors, particularly in the private sector (Ugoani & Ibeenwo, 2015). It has been concluded via research (especially from the views of developed nations), that entrepreneurial organisation are set to drive a nation’s economy with employment generation as the basic vine of their existence (Rasool, Gulzar & Naseer, 2012).There is no doubt that utilising business information resources contributes to overall business performance. Law cited in Haliso and Okunfulure (2010) affirms that the utilisation of information by organisations gives them the competitive advantage necessary to sustain their business. In the same vein, Ikoja-Odongo cited in Okello-Obura, Minishi-Majanja, Cloete, & Ikoja-Odongo (2008) emphasised the foremost resource which information has come to be, as its handling and utilisation determines to a large extent the success or failure of business activities. Keh, Nguyen, and Ng (2007) showed that there was a positive relationship between information utilization and economic development.

1.2 Statement of the Research Problem

Some of the earlier studies returned positive relationship between transport and property values in the Ikeja Computer village while others showed negative relationship. For instance, in a study on the relationship between rail travel cost and residential property values, a replacement of streetcar with subway increased site rent at a location that is perpendicular to the facility within a one-third mile walk to the station (Dewees, 1976); and there was positive influence of permanent transportation improvements on land values (Wolf, 1992).

The roads exhibit a number of nodes and linkages to form networks of both arterial and minor routes along which commercial properties locate. Commercial users displaced residential users, causing sites to be at highest and best uses with concomitant increases in the values of commercial properties. Accessibility within the road network is affected by the compact nature of various routes that sometimes impede volume of traffic. The road network is made up of nodal points and links that determine the degree of connectivity and accessibility in the network. The use of roads leads to a study of urban areas in relation to land uses, especially commercial properties. It is against this background that this study was conceived.

1.3 Research Questions

The foregoing has elicited a number of questions in terms of road network analysis and values of commercial properties in Ikeja, Nigeria to which answers are to be proffered. The relationship between arterial road network and commercial property values cannot be determined without due consideration given to variables that make up the network, especially those that relate to arterial roads and other explanatory variables and values of commercial properties. Some pertinent questions to enable the study attain its stated objectives are as follows:

  1. What is the pattern of arterial roads in Ikeja Computer village?
  2. How have the use and sales of computer wares impacted in the economic development of the study area?
  3. What are the individual contributions of the explanatory variables to variability in commercial property values in Ikeja Computer village?

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THE IMPACT OF IKEJA COMPUTER VILLAGE TO THE ECONOMIC DEVELOPMENT OF IKEJA LOCAL GOVERNMENT AREA.

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