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News Update (July 4, 2017 05:10:39am...)
Nigeria: Minister urges private sector to assist in commercializing research findings


WorldStage Newsonline-- Nigeria’s Minister of Science and Technology, Ogbonnaya Onu has urged the private sector to assist in commercializing research and development findings in order to fight poverty and create jobs in the country.

Speaking in Abuja after receiving a report from the committee on the commercialization of research and development findings, Onu said findings from educational institutions will also be commercialized.

He also added that the Islamic Development Bank IDB had commenced the process of facilitating the Nigerian private sectors on the commercialization of the  findings.

The Minister said the bank will help in the commercialization of research findings produced by Research Institutes in Nigeria and also create jobs opportunity in the country.

He noted that commercialization will lead to the local production of all the nation’s needs. “We believe that the lack of promoting Nigeria products can be achieved by producing all our goods locally.

Onu stated that Islamic Development Bank will  use their resources to assist Nigeria to tackle food insecurity in the country.

He also challenged Nigerian Researchers and Innovators in the diaspora to come home and invest especially in the area of space technology.

"We cannot  afford to allow other countries explore space, we are going to work with the Federal Ministry of Finance and Trade and Investment to facilitate their coming home and also develop venture capital,” he said.

The Minister disclosed that a draft copy of Science and technology road map 2030 had been distributed to all  stakeholders for comments and inputs before it will be forwarded to Federal executive council for approval .

“The Federal Ministry of Science and Technology is working hard to close technology gaps in the best interest of the nation through   Technology Acquisition initiatives,” he said.

The Chairman of the Committee who also doubles as the Director General of the National Office for technology Acquisition and Promotion NOTAP, Dr Dan Azumi Mohammed Ibrahim while submitting the report alongside other members of the committee expressed hope that the report to be fully implemented.

He said there “are lots of technological innovations that can move the country forward if well harnessed.”

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