HarnessingScienceTechnologyAndInnovationsStiForSustainableIndustrialAndEconomicDevelopment (379 388)

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net
ISSN (ONLINE): 2250-0758, ISSN (PRINT): 2394-6962

Volume-5, Issue-5, October-2015
International Journal of Engineering and Management Research
Page Number: 379-388
Harnessing Science, Technology and Innovations (STI) for Sustainable

Industrial and Economic Development
1,2,3,4
C. C. Ihueze1, C. C. Okpala2, E. C. Okafor3, U. C. Okonkwo4

Department of Industrial/Production Engineering, Nnamdi Azikiwe University, Awka, Anambra State, NIGERIA
ABSTRACT
I.
In this paper the critical nature of science,

technology and innovations were established. The
fundamental and unique roles for sustainable industrial and
economic development were also discussed. The complex and
multifaceted innovation systems and their interactive
network (i.e. actors and linkages) were related. As regards
what triggers off innovation, clear cases of recent
development evolving as a result of negative technological
responses like the challenge of carbon emission triggering off
the development of eco friendly products were used to drive
home the point. The paper then brought it home by
addressing the state of science and technological innovation in
Nigeria, stating reasons for poor state of science and
technological innovations. Having identified the problems, the
paper proffered solutions on the way forward with special
focus on Nigeria. A coherent national policy guideline that is
properly coordinated, sound educational system with
adequate infrastructure, focusing on areas of comparative
advantage, collaboration between industry and academia,
among others were advocated. Finally, a call of state of
emergency was made to emphasize the urgency of the matter.
Keywords: science, technology, innovation, knowledge,

sustainable, Nigeria, education, engineering, development,
economy.
379
INTRODUCTION
In relating science and technology to sustainable

industrial and economic development, one can say without
any fear of contradiction that technology is the language of
the present and science is its grammar. Therefore, only
those who can speak the language will be relevant in this
century and those who are not, will be swept into the dust
bin of history. Indeed, the heart of the long run industrial
and economic development is technology and innovations,
while the heart of technology and innovations is science.
In this regard, countries design national policies in order to
develop science-technology-innovation synergy for their
economic roadmap, leading to sustainable industrial and
economic development.
It is important to establish a common
understanding of the key terms of the title of this paper.
According to Popper (2002), Science is derived from a
Latin word Scientia meaning Knowledge. It is defined
as the systematic study of nature, of the material and
physical universe, based on observation, experimentation,
and measurement, as well as the formulation of laws to
explain these facts in general terms. It is the study of
knowledge which can be made into a system, and usually
depends on seeing and testing facts and stating general
laws. From the word science comes scientists, the curious
seeker of answers to the unknown in a methodical and
orderly manner. Figure 1 depicts the branches and
hierarchy of science.
Copyright 2011-15. Vandana Publications. All Rights Reserved.
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Figure 1: The Branches and Hierarchy of Science

Technology on the other hand refers to the body
of organized knowledge, tools and machines, used by man
to manipulate his environment for his general good. It
involves the adoption of scientific knowledge or inventions
to develop and produce goods and services useful to man,
thereby solving everyday problems or facilitating tedious
human activities. It is a practical problem solving
Source: Wikipedia
enterprise, which is propelled by scientific discovery or by

societal needs. No doubt, our needs are many, and we must
be propelled by the same measure. Technology can be
traced historically to the beginning of time to be mans
quest to improve his way and quality of life. Figure 2
portrays the relationship between science, technology, and
the society.
Figure 2: The Relationship between Science, Technology, and the Society.

According to the BusinessGov (2013) innovation
generally refers to changing or creating more effective
processes, products and ideas that can increase the
likelihood of a business succeeding. This could mean
implementing new ideas, creating dynamic products or
improving existing services. Innovation can be viewed as
the application of better solutions that meet new
380
requirements, unarticulated needs, or existing market

needs.
Lange (2013), pointed out that innovations are
such changes in production functions, in the schedules
indicating the relation between the input of factors of
production and the output of products, which make it
possible for a firm to increase the discounted value of the
maximum effective profit obtainable under given market
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condition. As regards classification, Blaug (1997), listed

two classifications of innovation - process and product
innovations. He explained that the distinction is to some
extent an artificial one, as the introduction of a costreducing process is sometimes accompanied by a change
in the product mix, while new products frequently require
the development of new equipment. In practice the two are
usually so interwoven that any distinction between them is
arbitrary. Buttressing it further, Morck and Yeung (2000),
explained that efforts have been made to define and
classify the dimensions of innovation, as the positive
connotation of innovation, as a valuable improvement, is
itself a new idea. This neatly illustrates the ambiguity that
underlies the role of innovation in the society.
Sener and Saridogan (2011) observed that

knowledge and technology have become increasingly
complex, raising the importance of links between firms
and other organisations as a way to acquire specialised
knowledge. Technological innovation is therefore the
process through which new (or improved) technologies are
developed and brought into widespread use; it is usually
associated with product and process innovation. The role
of science and technology ultimately rubs off on the
industrial and economic development of any nation or
people. Indeed, they have a chain reaction as depicted in
figure 3.
Figure 3: The Link of Science, Technology Innovation on Industrial and Economic Development
Evidence suggests that those countries that are
able to steer Science, Technology and Innovation (ST&I)
processes towards knowledge-based economies enjoy
more economic growth and prosperity than those who do
not. In addition, ST&I may also contribute to social and
ecological dimensions of development through providing
solutions for specific problems and by enhancing a
knowledge base for self-determined development.
II.
SCIENCE AND TECHNOLOGICAL

INNOVATIONS
Science and Technological innovations play a

fundamental role in wealth creation, improvement of the
quality of life and real economic growth and
transformation in any society. The dichotomy of the world
along two economic poles, of developed and developing is
mostly linked to the level of science and technology
sophistication. This implies that science and technological
381
innovations play pivotal roles in the development of

nations. However, to be effective and relevant, science and
technological innovations must be carried out in such a
way that it promotes sustainable development.
Crespi (2004), reviewed the most relevant
determinants of technological innovation. He explained
that what has emerged is that innovation is a complex and
multifaceted phenomenon and that a large amount of
factors tends to influence it. This large consensus is
enlightened by the importance attributed to public
intervention in promoting innovation and technological
change at a policy level. However, to increase scientific
research and development spending is not sufficient.
Therefore, an effective sustainable innovation derives from
a set of policies oriented at designing a proper environment
for innovative activities both at a national and at a local
level. From the first point of view, it has been underlined
for example the importance of patents, market structure,
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human capital and demand considerations in determining

the pace of innovation.
According to Sener and Sardogan (2011), there are many
factors and actors triggering technology and innovation in
the economy. As could be observed from figure 4,
innovation is an engine of economic growth and national
welfare which results from firms, individuals, universities,
state-supported researches and the efforts of the civil
society. It is pertinent to mention that engineering
profession is the piston of this engine. In buttressing this
fact, Okonkwo (2013) noted that engineers have been

prepared by training to be creative. They have a mindset
that enables creativity to thrive. They have developed their
abilities of perception, understanding, logic and thinking
style to the extent that they can be very creative as their
products all over the world testify. For this reason, it is
very important to design a national innovation system to
provide an environment for economic agents to create and
to produce new technologies and innovations.
Figure 4. Sources of Innovation as a System

Figure 5 shows the national innovation systems
affecting the development of science technology and
innovation. In the system, there is a supportive and
interactive network to provide innovative environment for
economic agents in not only the micro and macro
economies, but also national and global level. It is very
important market conditions, institutional and structural
conditions to produce technology and innovations resulting
in competitiveness of the country.
Egboga (2012), observed that the United
Kingdom and France benefited immensely from the
industrial revolution. He pointed out that the United States
382
Source: Schilling (2008)
emerged from an agrarian economy in the 19th century into

an industrial superpower in the 20th century. More
recently, Taiwan and Korea have exploited advances in
silicon micro-electronics from the early 1960s. China and
India have emerged as industrial leaders in manufacturing
and information technology respectively. Malaysia has
followed in the footsteps of these later Asian successes.
It is to be noted that in the recorded achievements,
all these countries invested heavily in people, factories and
infrastructure that provided the foundation for todays
industries. These successes were all based on carefully
designed
roadmaps
of
plans
and
strategies.
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Figure 5. Actors and Linkages in the Innovation System,

Development (OECD) (1999).
Unfortunately, however in many if not all the
non-developed/yet to-develop countries, technology is
seen or viewed as a consumable item, and not something
that can be produced or created. Essentially, technological
innovation is the primary engine of economic growth. It is
the key and fundamental requirement for value addition to
raw materials and people. It provides the key to unlocking
any countrys potential in terms of decreasing overhead
costs associated with outsourcing and creating
employment opportunities. Common examples include the
following:
Basic needs arena (food, clean water, improved
public health, shelter etc). Analysis of technologically
advanced economies shows that at each level of the
economy, science and technological innovations provide
the engine for economic growth. For example, in the case
of primary products, application of science and
technological innovation significantly increases the yield
from agricultural production and mineral beneficiation.
Similarly, new and existing industries do
stimulate economic growth at the intermediate level, while
the overall volume of activity at the tertiary level is
383
Source:
Organisation
for
Economic
Co-operation
and
amplified by increased use of science and technology

associated with information technology and improved
distribution/marketing networks. Therefore, the need for
countries with the intention to grow, to invest significantly
in science and technological innovations cannot be overemphasized. This is achieved by developing the talent, the
human capacity required to compete in a globally
competitive world of today.
Through
this
application,
scientific
knowledgeable professionals have been able to invent
equipment and machines being used in industries and even
in our homes, in addition to this, science and technological
innovations has helped in easing stress brought by the
movement of goods and people from one place to another,
by inventing better transportation approaches like
automobiles, aircrafts and so on.
According to Daniel (2012), science and
technological innovations has helped in the area of
medicine. He explained that some natural herbs converted
to drugs with the aid of modern equipment, and these
drugs are used in our hospitals and pharmacies. Moreover,
rural
communities are transformed to urban
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settlements through science and technology. This is

made possible through the availability of electricity, pipeborne water, good roads, schools, hospitals and other
social amenities.
For any successful economy, particularly in
todays quest for knowledge based economies, science,
technology and engineering are the basic requisites. If
nations do not implement science and technological
innovations, then the chances of getting themselves
developed becomes minimal and thus could be even rated
as an undeveloped nation. Science and Technological
innovation is associated in all means with modernity and it
is an essential tool for rapid development.
Modernization in every aspect of life is the
greatest example of the implementation of science and
technology in every nation. With the introduction of
modern gadgets in every walk of life, life has become
simple and this is possible only because of implementing
science, technology and innovation together. Without
having modern equipment in all sectors, be it in medicine,
infrastructure, aviation, electricity, information technology
or any other field, the advancement and benefits that we
enjoy today would not have been possible.
III.
THE ROLE OF SCIENCE AND
TECHNOLOGICAL INNOVATIONS FOR
INDUSTRIAL AND ECONOMIC
DEVELOPMENT
Understanding technological innovation is vital
for marketers for several reasons. According to Kubacki
(2014), Technological change is perhaps the most
powerful engine of growth. It fuels the growth of new
brands (e.g., Gillettes Mach 3), creates new growth
markets (e.g., digital video recorders), and transforms
small outsiders (e.g., Intel) into market leaders.
Science, Technology and Innovation has a very
unique side to it. It is intrinsically linked to most, if not all,
sectors of an economy, so naturally, economic
development should be the result of advancing Science and
Technology. Perhaps nothing sums up the importance of
science and technology better than this quote by British
Physicist, Stephen Hawking The world has changed far
more in the past 100 years than in any century in history.
The reason is not political or economic but technological
technologies that flowed directly from advances in basic
science
Recent analysis shows that economic growth over
the period 1950 to 2010 is indebted to the innovations, and
productivity
gains
arising
from
technological
advancements. Advances in Science and Technology can
help to diversify the economy, by improving productivity
in various sectors while defining new ones.
384
Looking at the relatively recent development of the hybrid

engines that harness solar power and batteries (for cars,
and more-recently for ocean liners and ships) one can see
clearly the innovative response to the challenges of carbon
emission and exclusive reliance on fossil fuels like diesel
and petrol. Considering the technological advances in the
ICT sector, a recent World Bank study shows that the
invention and usage of mobile phones and broadband
internet is strongly associated with economic growth: a 10
percent increase in mobile phone coverage and high-speed
internet connections will increase GDP by 0.8 percent and
1.3 percent on average, respectively.
Science, Technology and Innovation also play a
key role in improving the quality of life. For instance,
research in healthcare has proven vital to the prevention,
diagnosis and treatment of various killer diseases. Youth
unemployment has been steering the country on the face
but could be curbed if Science, Technology and Innovation
are harnessed to develop a critical mass of skilled
manpower that will be the catalyst for job creation. This is
because as the world has become a global village, there has
been an increasing need to strengthen and reinvigorate
science, technology and innovation as vital instruments for
job creation especially in the developing countries.
In the education sector, particularly higher
education, there is an emerging paradigm shift in the world
today. The recent onset of powerful technologies,
including cloud computing and precise online assessment
regimes enabled the launch of a number of top-tier
university entrants into what is being called the Massively
Open Online Course (MOOC) marketplace.
In a nutshell, developing countries cannot hope to
prosper in an increasingly competitive global economy and
open trading system if they do not build the appropriate
science and technology capacity to produce more valueadded goods and services. In fact, it can confidently be
said that science and technological innovation is the
dividing line between developed nations and less
developed ones.
The State of Science and Technological Innovation in
Nigeria
Nigeria is making some contributions to the
development of Science and Technology, but we are
underperforming, relative to our abundant human capital.
Just two examples will suffice: Quoting the NEPADs
African Innovation Outlook, Okonjo-Iweala (2012) opined
that South Africa produced over 86,000 scientific papers
about 37 percent of the total research output of 19
African countries surveyed between 1990 and 2009; Egypt
produced nearly 60,000 about 27 percent of output.
Nigeria produced 27,743 papers (or 12 percent of the
total output) about one-third of South Africas output.
Similarly, South Africa was able to secure more than 1,000
patents in 2010 alone, according to data obtained from the
World Intellectual Property Organization (WIPO);
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whereas, Nigeria secured only 18 patents in the last 8

years. This is unbelievably low.
Reasons for the Poor State of Nigerias Science and
Technological Innovations
In the new world trend, natural resources
endowments is not enough for wealth creation but the
knowledge of how these raw materials can through
Science and Technology, be transformed into valuable
goods and services for economic development and
improved quality of life.
Firstly, we need a better and more coherent
national strategy, as the sector remains highly fragmented,
lacking effective coordination. The quality of our
education system is also a problem. Our education system
has deteriorated to a point where students cannot acquire
the necessary skills they need to become employable or
innovative in an ever-changing world, upon graduation.
Higher institutions are plagued with inadequate Science
and Technology facilities and materials for practical skills
development. Many laboratories lack the basic equipment
for thorough scientific research. Nigeria is churning out
thousands of science and technology graduates each year,
but several of them are under-employed, going into
banking and other non-scientific sectors.
Also, poor relationship and unhealthy rivalry
between industries and higher institutions (research
institutions inclusive) is a major hindrance to attaining a
remarkable milestone in the development of our nation
through science and technological innovations. Olorunfemi
et al. (2012) complained of a missing link between the
institutions and industries as a result of lack of appropriate
practical skill acquisition in engineering training.
Okonkwo et al. (2013) added another dimension to the
possible course of this missing link when he submitted
thus: The joy of engineering courses as compared with
other pure science courses is its applied nature. However,
most of the engineering courses in Nigerian are taken just
like any other science course without relating how they can
be applied in practice. This is probably because some of
our industries are importation-based. In other words, many
so called industries in Nigeria are just assembly plants in
which case all design processes and manufacture are done
outside the country and the parts imported for assemble.
IV.
THE WAY FORWARD
Policy makers at all levels in Nigeria need to be

keenly aware that few countries can achieve development
goals of economic diversification, food security,
improving health systems, cleaner energy, generating
wealth and jobs, and reducing absolute poverty, without
the scientific, engineering, and technical capacity to handle
these challenges.
385
These essential realizations explain why visionary and

innovative leaders always strive to evolve strategic
roadmaps and practical policies aimed at launching as well
as keeping their nations on the world's science and
technology map. Unfortunately, Nigeria has continued to
watch and wonder helplessly from the sideline, and in
most cases, found itself crawling and slipping away while
other nations solidify their footings and race on the fast
lane towards technological development and advancement.
Due to the countrys inability to look inwards, challenge
itself, act rightly and proactively, it has found itself at the
mercy of other nations, and have now been forced to rely
heavily on them to provide for it even those basic
necessities of life which it ought to provide for the citizens,
neglecting both the long term economic and national
security implications. It is quite difficult to overstate the
need for a reversal of this ugly trend if Nigeria is serious in
creating the required technological and manufacturing base
needed to jump-start its economy and put its idle, ablebodied and willing to work citizens to work.
It must be pointed out that no nation in history
has ever attained scientific and technological development
serendipitously or by tacitly running an economy that
coerces its first grade science and engineering graduates,
who would have made excellent careers in science and
engineering research, into becoming chartered accountants
and chartered bankers as it is the case in Nigeria today - a
serious system flaw, an unsustainable and frightening
scenario. Nations have only climbed up the science and
technology ladder by investing conscious efforts and
resources backed up by smartly crafted policy guidelines.
A fundamental need for development of science and
technological innovations for national development is to
establish a sound educational system. This educational
system must be anchored on a sound philosophical
foundation that encourages partnership for exchange of
people, ideas, and support facilities. The universities and
research institutes in Nigeria should enhance their
relevance to society through the development of
partnerships with the local community, industry and
national research facilities. Educational institutions should
be open to meet the needs of the local industries, people
and environment, while updating their research
programmes and activities to meet and satisfy the practical
needs of the society.
Local research and development should be as
selective as possible so as to avoid mismanagement of
scarce resources. However, these linkages should not be
made to be limited nationally, but should extend to include
regional and international elements. These actions will go
a long way to enhance educational expertise both for
instructions and for the students. Research and
development should be coupled with the nations
educational goals and our universities to promote and
strengthen national economies. The emergence of stronger
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economies will in several ways contribute through

educational exchange programmes, partnerships and
linkages to an equally stronger regional economy.
To promote sustainable science and technological
innovations in Nigeria, the most important and strategic
thing to do is to employ education and educational
institutions as vital tools towards this goal. This is
anchored on the logic that, the sustained prosperity of a
nation depends upon the level and quality of its education
system.
Education as it has been argued empowers
individuals and maximizes national intellectual resources
in order to sustain social and economic progress for the
benefit of all. It is on the basis of this that I advocate for
the effective utilization of education and educational
institutions for the attainment of sustainable development
through science and technology research. This approach
will broaden the scope of science and technological
innovations as it will bring about scientific and
technological literacy among the citizenry. This however,
should be based on a philosophy of education that will
promote science and technology.
The current situation where science teaching and
learning ranging from the elementary level to the
university level are handled as an exercise in the abstract
due to inadequately prepared teachers and lack of basic
infrastructures is extremely unhelpful. These results in our
educational system producing science graduates with
shaky foundations and skills that are completely
disconnected from industrial realities, and as a result, are
unable to make any meaningful contribution to our efforts
at technological breakthrough. In the Faculty of
Engineering in Nnamdi Azikiwe University, with the help
of the Vice Chancellor and grant by the Federal
Government, we are currently equipping our Laboratories
and Workshops in order to arrest the ugly situation.
A reversal of our present technological
misfortunes rests largely on our government. One of the
simplest take-off points is to look at functional models put
in place by the developed nations such as United States,
which have been successfully replicated by most
developing countries. The government should prioritize
science and technology education by setting up a
functional and pragmatic agency - a Nigerian version of
the U.S. National Science Foundation, which encourages
and motivates researchers and students through effective
coordination and provision of research funds. These
research grants are imperative in the acquisition of needed
equipment and recruitment of top-flight manpower.
It is strange, disheartening and smacks of lack of
focus when one realizes that after decades of raking in tons
of petro-dollars, an oil-rich and big country like Nigeria
cannot boast of a single functional modern science
research centre or a National laboratory. Needless to say
that there exist no equipped and modern laboratory in our
386
universities, and as such, no serious research goes on in

them. This is simply unacceptable and in contrast with
most developing, less endowed and smaller nations. A
functional and well-equipped national laboratory serves as
a brainstorming and research hub for scientists and
engineers as well as a training center for up-coming
scientists. It also serves as an invaluable partner to the
universities since it would encourage research
collaborations and also afford university teachers and
students possible access to more expensive and
sophisticated equipment that may be unavailable in the
university laboratories.
Such a center automatically helps in bridging the
gap between industry and science graduates by affording
them the opportunity of carrying out real-life researches as
well as working with even industrial researchers that use
the center, in the course of their undergraduate and
graduate studies. More importantly, it would in no small
means help in lending credibility to our educational system
because of its ability to spur serious researches and
research publications by our researchers/university
teachers and students in world-class peer reviewed
journals.
Ukah (2009), pointed out that putting in place
coordinated science and technology policies as well as
providing the requisite infrastructures and conducive
environment, have the natural effect of not only reducing
brain-drain, but also serve as a necessary vehicle for luring
foreign-based Nigerian scientists and engineers home. He
explained that the approach has worked for countries like
China, Singapore and South Korea etc, and would
definitely work for Nigeria. In the course of interactions
with Nigerians in Europe and America, particularly the
scientists, and recognizing the decency and hardworking
spirit of Nigerians, their unity in common challenges and
common hopes as well as their pride in seeing our nation
succeed, it is without doubt that most foreign-based
Nigerian scientists would be willing to spend some time in
such a center at least in the form of guest/visiting scientists
as a way of chipping in to our nation's quest for
technological development.
Most Asian scientists in European and American
universities hold parallel positions in such research centers
and universities in their native countries, and spend a
sizeable chunk of their time there. Such platforms for
collaborations will succeed in establishing a profound link
between home-based and foreign-based scientists and
promote effective sharing of ideas and information.
A Call for a State of Emergency for Science and
Technological Innovation
The role of science and technology as shown
in figure 6 has a very unique side to it. They are
intrinsically linked to most, if not all the sectors of an
economy. If science and technology innovations are
healthy, then industrial and economic development will be
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healthy, if they are sick it will reflect on the industrial and

economic development, if they are dead, it will also
showcase on our industrial and economic development.
Figure 6: The role of Science and Technological Innovations

On this note therefore, the reality on ground in
Nigeria as far as science and technology innovation are
concerned is hereby x-rayed:
Considering the fact that we cannot afford to
simply watch and wait on our luck to shine us out
of our present science and technology hole;
Considering that our economy will remain
primitive and vulnerable to the slightest
downward shift in the price of crude oil as long as
we continue to lack the technological base
necessary for robust and sustainable industrial
and economic development;
Considering that our country cannot be accorded
its due respect as long as it continues to take a
back seat in science and technology;
Considering that our unemployment and crime
rates will continue to be in double digits as long
as we continue to lack the technical know-how
required for a guaranteed and sustainable
industrial and economic developmental;
Considering that our national economy and
security will continue to be endangered as long as
we keep relying on foreign expertise to build our
refineries and even explore our natural resources;
Considering that our citizens will continue to die
of preventable and curable ailments as long as we
continue to lack the technology necessary to
manufacture essential medical equipment needed
for efficient health-care delivery.
387
Considering that the promise of a stable power

supply to our people will continue to be a political
campaign ritual as long as we keep importing not
only the power transformers, but the spare parts
as well;
Considering that our cities will continue to be
overwhelmed by wastes and waste management
as long as we continue to lack the technology
needed for efficient waste recycling,
Then, an immediate state of emergency should be
declared on this critical sector of our national economy and
security. We must not turn the page on this bitter reality
staring us right in the face; rather, we must pick up
ourselves, dust off ourselves, tap into our better angels,
bring to the fore that irrepressible Nigerian spirit, and
prove once more that we are not as unfocused and
visionless as our politics and policies might suggest.
In the first instance, there is a need for an overreaching national strategy for science and technology and
innovation: a strategy that will restructure our Science and
Technology
sector
for
greater
coordination,
communication, and policy harmonisation.
Secondly, given the governments limited resources,
the chances of increasing allocation to the Science and
Technology sector are rather slim in the short to medium
term. This is why we need to focus our research efforts and
expenditure on the few areas where we have comparative
advantage areas like agriculture, petrochemicals,
renewable energy, and mining, to mention a few.
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Thirdly, more effective partnerships between the

public and private sector should be established.
Finally, mechanisms must be put in place to improve
the quality of equipment and facilities available for
teaching at all levels, as well as for research at the tertiary
level. These measures are not limited to simply increasing
funds available; collaboration between higher institutions
(national and international), a more limited focus in
research programs offered, and an improvement in the
culture of maintenance are all measures that will help
deliver this end. In the case of college/university research,
funding should be competition-based, to provide incentives
to enhance efficiency and strengthen collaboration with
industry.
V.
CONCLUSION
When a format or procedure has existed for

decades without achieving its set goals, the first and
logical step to finding a solution is what has made it not to
function. With all modesty, it can be said that this paper
has done justice to that by examining the issues that has
hindered effective harnessing of science, technology and
innovation (STI) for sustainable industrial and economic
development in Nigeria. Indeed, science and technological
innovation is the bridge that will lead one to sustainable
industrial and economic development. By so doing,
contribute in reversing the orthodoxy that Nigeria is rich
but Nigerians are poor. In this country, we need the right
technology for effective utilization of our abundant natural
resources. It is therefore, a desire that this paper will spur
intellectual discourse that would engender a paradigm shift
for the development and sustenance of technological
driven economy, bearing in mind that the real voyage of
discovery consists not in seeking new landscapes, but in
having new eyes.
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15th
Sept.
2015,
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