Abstract
Existence of small and medium scale businesses are essential to the growth and sustenance of any economy. SMEs serve as propellant to the development of large existing industries. Nevertheless, the rate of failure of SMEs globally is alarming. Notable in Nigeria as a case, the economy is suffering from structural defects and remains a consumer economy as a result of failure of indigenous engineering personnel to understand and take the lead role to process and utilize abundant natural resources for industrial development of the country. This paper presents an overview of development of indigenous technology in Nigeria through promotion of engineering based SMEs as a capacity building strategy for sustainable development and poverty alleviation. It is concluded that in order to achieve meaningful economic development and sustenance in developing nations like Nigeria, application of indigenous technology through promotion of engineering based SMEs should be considered. Also increase awareness among the public, policy maker and industrialist on the pivotal role of science and technology plays in national development.
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