TITLE:
Understanding Technology Transfer Mechanisms: Assessing Impact of Technology Licensing on Performance of Nigerian Oil and Gas Industry
AUTHORS:
Nwoko Marshall Olakada, Bakare Akeem Adewale, Saji George, Alimi Olorunfemi Yasiru
KEYWORDS:
Technology Transfer, Licensing, Performance, Oil and Gas Industry
JOURNAL NAME:
Journal of Human Resource and Sustainability Studies,
Vol.12 No.1,
March
22,
2024
ABSTRACT: The study examined the impact of technology transfer via technology licensing on oil and gas sector performance in Nigeria between 1980 and 2021. This investigation was prompted by the concerning performance trends observed within the sector, characterized by declining oil production, divestments by key oil companies, and consequent reductions in government revenues. These challenges have led to increased volatility in foreign exchange earnings, rising job losses, and heightened environmental risks. Despite discussions at various levels aimed at enhancing sectoral performance, significant results have remained elusive, contributing to the enduring hardships experienced by consumers of oil and gas products. The study was analyzed using the Quantile Autoregressive Distributed Lag (QARDL) approach to test for the short and long-run impacts. Findings revealed that technology licensing registered has no significant impact on oil and gas production in Nigeria both in the short and long run. This suggests that there are potential inefficiencies or barriers in the technology transfer process, hindering Nigeria’s ability to fully capitalize on available technological advancements to enhance its oil and gas sector output. Hence, there is a need for policymakers and industry stakeholders to critically assess the existing licensing frameworks, identify potential bottlenecks or shortcomings, and implement corrective measures to facilitate more effective technology transfer and adoption. They should prioritize efforts to strengthen the institutional and regulatory environment surrounding technology licensing activities in the Nigerian oil and gas sector.