Technology innovation has the potential to drive economic development in Nigeria; by creating jobs, fostering entrepreneurship, attracting investment and contribute to diversifying the economy. However, despite its potential, the technology innovation landscape in Nigeria is characterized by challenges; the study examines the relationship between economic development and technological innovation and the direction of causality between the variables. Employing the Granger Causality test and the Vector Error Correction Model on a data set generated from 2000 to 2024 the results from the analysis reveal that a complex relationship between technological innovation and economic development, where innovation has a limited impact due to underinvestment and systemic weaknesses. More also the descriptive profiles depicted economic volatility juxtaposed with innovation sparsity, signaling sporadic breakthroughs amid low baselines. The study concluded by recommending the establishment of a national council to oversee and coordinate innovation efforts this can be achieved by involving government, NGOs, and private sector stakeholders, to ensures inclusivity by addressing barriers to access and promoting diversity.
Oyovwi et al. (Fri,) studied this question.