Abstract

This paper examines the interconnections among synergizing innovation, commercialization, and fair wages as critical levers for achieving sustainable economic growth in Nigeria. The objectives of the study is to examine how synergizing innovation measured through research and development expenditure, patents, and adoption of technology, influences productivity and competitiveness; analyze the state of commercialization in Nigeria by evaluating access to finance, start-up growth, and market entry conditions that influence the performance of micro, small and medium enterprises (MSMEs), which serve as a major transmission channel to economic growth; assess the fairness of Nigeria’s wage system by examining minimum wage policy, cost of living, and the link between wages and worker productivity; and investigate the contribution of these three elements to sustainable economic growth indicators such as Gross Domestic Product growth, employment generation, and poverty reduction. The methodology adopted involves a descriptive and analytical approach, drawing on secondary data from the National Bureau of Statistics, the Central Bank of Nigeria, the Global Innovation Index, and the International Labour Organization (2020–2024). Data are presented using tables, bar charts, and pie charts to highlight trends in research and development expenditure, Nigeria’s global innovation ranking, wage dynamics, and the contributions of micro, small and medium enterprises to Gross Domestic Product and employment. The findings reveal that Nigeria’s research and development expenditure remains below 0.5 percent of Gross Domestic Product, the Global Innovation Index ranking has stagnated below 120th position, and wage increases have not matched inflationary pressures, thereby limiting purchasing power. In addition, micro, small and medium enterprises, which account for over 45 percent of Gross Domestic Product and 60 percent of employment, remain constrained by poor financing and weak commercialization pathways. The paper concludes that without deliberate integration of innovation,commercialization, and fair wages, Nigeria’s path to sustainable economic growth will remain hampered. The study recommends actionable policy measures such as increasing national R&D spending to at least 1% of GDP within a defined implementation period, establishing regional innovation and commercialization hubs to support prototype development and technology diffusion, enforcing inflation-linked minimum wage adjustments reviewed regularly by government agencies, and expanding targeted low-interest financing for MSMEs through institutions such as the CBN and Bank of Industry. These measures are expected to enhance innovation capacity, strengthen commercialization outcomes, support fair wage implementation, and contribute to sustainable economic growth in Nigeria.