This study considered how the future value of listed manufacturing companies in Nigeria can be enhanced through optimal capital commitment in research and development (R&D); to achieve economic value added (EVA). It was considered that when adequate research is not done before capital investment, the appraisal techniques are not sufficient to support the capital project. This becomes a major problem to the Nigerian manufacturing companies. The study adopted the quantitative panel methodology of the expost facto and correlational research design, where secondary data were extracted from the Nigerian Stock Exchange fact books for the period, 2010 – 2016. Eighty three (83) manufacturing companies listed in the Stock Exchange during this period were taken as the population of the study. The sample size was 69. The study answered three research questions and tested three hypotheses at 0.05 level of significance. Multiple and simple regression analyses were used on the data collected, to find the relationship between the independent and dependent variables for the seven years. The findings revealed that research and development (R&D) had a significant relationship with economic value added (EVA). Based on the findings and conclusion, it was recommended that management of manufacturing companies should ensure that more of research and development is embarked on by manufacturing companies since it will enhance profitability, expansion and technological development.

Keywords : Capital Commitment, Research and Development, Listed Manufacturing Companies, Economic Value Added.