TRANSFER OF TECHNOLOGY AND NIGERIAN ECONOMIC DEVELOPMENT

This work is concerned with the effect of transfer of technology. The features of technology are determined by the nature of the economies for which they are designed. The most significant determinants includes the level of income of the recipient country, resources availability in the country, nature of the technology in use in the society, the following are the features of technology as they determine its resources use productivity and impact on production and consumption pattern. It was observed that the actual technology in use is thus circumscribed first by the nature of world technology, there by the nature of world technology, then by the availability of this technology to the country of known techniques and finally by the choice made among those available transfer of technology means the transfer of techniques in form of raw materials, plants, equipment, and knowledge from one country to the recipient (Host) country. Transfer of technology has created lot of opportunities and even wealth for Nigeria; however, it has also been observed that transfer of technology can also have negative impact on the country.