THE CHALLENGES OF TRANSITION OF RESEARCH TO ENTERPRISE IN THE DEVELOPMENT OF THE ECONOMY

Ominigbo O. Edafe

Department of Earth Sciences (Geology), Federal University of Petroleum Resources,

Effurun-Delta State

E-mail: ominigboedafe@gmail.com

INTRODUCTION

The role of research in the growth and development of any society cannot be overemphasized. Widely seen as a systematic procedure of investigating societal problems, research has become almost synonymous with development the world over. Indeed, the world’s industrialized and rapidly developing economies are noted for their high commitments to research investment and development. As such, it has been argued that if Nigeria’s vision of becoming one of the world’s 20 largest economies the year 2020 is to realized, then, research must be given its pride of place (Asarhasa & Enukpere, 2010).  We live in a constantly evolving world (socially and scientifically). Thus, to adapt to the global warming and climate change, there is the urgent need for research into cleaner, renewable energy alternatives; the dreaded HI/AIDS pandemic and other life-threatening diseases plaguing mankind as well as the Boko Haram phenomenon all need urgent and quality research studies to effectively tackle them. However, there is a near-consensus that the quality of research and development in Nigeria is not only low but also, there is a big disconnect between our researches and the industry. This essay therefore seeks to examine the challenges of transmitting research into enterprise in Nigeria.