SURVEY OF THE LEGAL FRAMEWORK FOR THE TRANSFER OF TECHNOLOGY IN NIGERIA AND TRINIDAD AND TOBAGO ENERGY RESOURCES LAW FOR SUSTAINABLE DEVELOPMENT

Abstract

It is an indispensable fact that one major reason for the country’s inability to achieve its optimum potentials by deploying oil wealth to stimulate economic development is the lack of or inadequacy of technical exploration technologies. There has been showing of no interest or enthusiasm to issues concerning technology transfers by appropriate authorities. Technology is the knowledge of how to manipulate materials (raw materials) by applying complex of techniques to achieve a patterned stipulated or expected end. It is very necessary in virtually every aspect of human endeavours including petroleum. The transfer of technology from experts therefore is very imperative. The question still remains - is Nigerian Energy Resources Laws so developed for optimum productivity, efficiency and effectiveness for transfer of technology when compared with Trinidad and Tobago. This is the précis of this research. There is no doubt that Nigeria has legal and statutory framework for transfer of technology but the problem lies in the implementation and execution of the provisions of these laws. Again, the influence of multinational corporation and corruption on the part of Nigerian authorities in the oil companies were identified to be limiting factors towards technological development and transfer. We made recommendations for improvement and how better to transfer technology for the sustainable development of the natural resources through technology transfer.