Improvements activity of innovation: experience, challenges and opportunities in Nigeria

Abstract

Technology and innovation are important concepts in improving efficiency, productivity and competitiveness in companies. The effective management of knowledge, science, technology and innovation is a determinant of competitiveness for companies, business and countries. In other side R+D is a very important activity for the economic development in the age of the digital economy and Industry 4.0. R&D and technology innovations have been proved to positively correlate with profitability in developed countries. This article assessed the actual status of these activities on the enterprises in Nigerian; experiences, challenges, strategies and opportunities to improve them in innovative sector. Data were collected from the textbooks and the internet. The research showed that the governments do it some efforts to improve the innovation. Some strategies point to management of knowledge and creativity, increase the finance of the projects, and protection of intellectual right property. The experts, institutions, banks and government need to create some strategies to do it more available and to support innovation activities. This is the most important challenge.