Innovation and sustainable development among multinational enterprises in Nigeria

Abstract

This study explores the effect of innovation on sustainable development among multinational enterprises (MNEs) operating in Nigeria. Utilizing a cross-sectional survey design, the research investigates how innovation practices within MNEs influence the economic, environmental, and social dimensions of sustainable development in the Nigerian context. Data were collected from workers of five multinational corporations using a structured questionnaire. The study hypotheses were analysed using partial least squares structural equation modelling (PLS-SEM) via SmartPLS 3.2.9. The findings demonstrate a positive and significant effect of innovation on all three dimensions of sustainable development. This suggests that MNEs fostering innovation contribute meaningfully to achieving broader societal goals beyond economic profit. The study further recommended that MNEs should integrate sustainability metrics into their innovation performance evaluations. Track how their innovations contribute to economic growth, environmental improvements, and social well-being. This will help them identify the most impactful innovations and guide future investments towards projects that generate shared value for their business and society.