The effect of public investment on technological innovation in Nigeria: Evidence from the Ministry of Science and Technology (2000–2020)
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Background of the Study :
Public investment is a crucial driver of technological innovation, fostering research and development and enabling the adoption of new technologies. In Nigeria, the Ministry of Science and Technology has played a key role in promoting innovation through public funding, infrastructure development, and policy support. Between 2000 and 2020, various initiatives were launched—including research grants, technology incubation centers, and partnerships with academic institutions—to bolster the nation’s innovation capacity (Akin, 2023). These investments have contributed to the development of a dynamic innovation ecosystem capable of generating new products and services. However, challenges such as bureaucratic inefficiencies, misallocation of funds, and a gap between research priorities and industry needs have raised concerns about the return on investment in the technology sector (Olatunji, 2024). This study examines the impact of public investment on technological innovation in Nigeria by evaluating the outcomes of initiatives led by the Ministry of Science and Technology. It investigates how public funds have influenced innovation outputs, research quality, and the overall technological landscape, and identifies opportunities for enhancing investment effectiveness (Bello, 2025).
Statement of the Problem
Despite significant public investment in technology initiatives, Nigeria has not fully realized the anticipated surge in technological innovation. Inefficiencies in fund allocation, bureaucratic delays, and misalignment between research and industry demands have limited the effectiveness of public investment. This disconnect has resulted in suboptimal innovation outcomes and hindered the development of a competitive technological ecosystem. The study seeks to assess the impact of public investment on technological innovation and identify factors constraining its success. Addressing these issues is crucial to ensure that public funds effectively translate into sustainable technological progress and contribute to overall economic development (Ibrahim, 2023).
Objectives of the Study:
1. To assess the impact of public investment on technological innovation in Nigeria.
2. To identify challenges in the effective allocation and utilization of public funds for technology.
3. To propose strategies for enhancing the return on public investment in innovation.
Research Questions:
1. How has public investment influenced technological innovation in Nigeria?
2. What challenges impede the effective use of public funds in technology development?
3. What measures can optimize the impact of public investment on innovation?
Research Hypotheses:
1. H1: Public investment positively affects technological innovation outputs.
2. H2: Bureaucratic inefficiencies negatively moderate the impact of public investment on innovation.
3. H3: Strategic alignment between public investment and industry needs enhances technological progress.
Significance of the Study (100 words):
This study evaluates the role of public investment in driving technological innovation in Nigeria, providing critical insights for policymakers, industry leaders, and academic researchers. The findings will aid in optimizing funding strategies, improving public investment efficiency, and fostering a more vibrant innovation ecosystem, thereby supporting economic growth and competitiveness (Umar, 2023).
Scope and Limitations of the Study:
The study is limited to examining the effect of public investment on technological innovation in Nigeria, focusing exclusively on initiatives by the Ministry of Science and Technology.
Definitions of Terms:
1. Public Investment: Government expenditure aimed at supporting economic and technological development.
2. Technological Innovation: The process of developing and implementing new technologies and improvements.
3. Ministry of Science and Technology: The government agency responsible for promoting research and technological advancement.
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