Developing a manufacturing-based economy in Nigeria through science and technology

Abstract The bedrock of manufacturing, and in fact globalisation of production and marketing, is science and technology (ST weak demand for manufactures due to declining purchasing power of the populace; high expenditure on spare parts, repairs/maintenance; legal and illegal influx of cheap imported goods (globalisation of trade); and political instability, especially during the military regimes. For the country to improve its manufacturing sector, evolve a manufacturing-based economy and be relevant in the globalisation of production and trade, it should pursue a combination of these ST technological licensing and transfer; encouragement of foreign direct investments; adoption of continuous improvements and innovation programmes; and technological knowledge initiation. This is only possible in a national innovation system with the following enabling environments: a well-funded education system; good and well-maintained physical infrastructures; favourable environment for RD and stable and favourable economic, legal and political conditions.