Measuring the technological innovativeness of petroleum firms in an emerging economy like Nigeria

An innovation survey is an innovative step towards understanding innovations in firms. Nevertheless, getting a universal measurement metrics for all regions and sectors has become a challenge to scholars of innovation. This is an attempt at designing innovativeness measurement metrics for a resource intensive industrial sector from an emerging economy context. Combining elements of both subjective and objective approaches to innovativeness measurement, the study uses data from a cross-sectional survey based on researcher designed instrument that was adapted from different frameworks, and included 12 firms in the petroleum sector of Nigeria's economy. Using item means, the study showed that the petroleum firms were barely innovative. This study has several practical implications. It will assist firms to determine their current level of innovativeness and identify areas that need refocusing in order to maximize the innovation process. Secondly, it will provide policymakers with sound analysis that will aid in evidence-based decision-making. Lastly, in the long-run, firm-level innovativeness index can be developed for periodic sector-wide innovation surveys.