The Role Of Technology Transfer In Nigeria

Technology transfer plays various roles in a country, the most notable being economic and technological development.

Private entities as well as the Nigerian government have entered into TTAs with foreign entities. The Nigerian government entered into TTAs with various brands to establish assembling plants for automobile production in Nigeria. Most of these business relationships were successful at their initial stages as they accrued profit, facilitated in the reduction of expenditure incurred on the importation of foreign cars, boosted the value of the naira as their operations helped reduce the demand for foreign exchange and served as a large source of employment to the Nigerian populace¹.