STI Will Strengthen Nigeria’s Financial Policies – Minister

The Minister of State for Science, Technology and Innovation (STI), Chief Henry Ikechukwu Ikoh, has said that STI will strengthen financial, fiscal and monetary policies in Nigeria and improve the country’s competitiveness value.

A statement issued on Friday by Josephine Ademu of the Press and Public Relations unit of the Ministry, noted that Chief Ikoh said this at the opening ceremony of the South-East Zonal dialogue between government and stakeholders in the Science, Technology and Innovation (STI) ecosystem for global competitiveness and productivity in Enugu State on Thursday.

The Minister stated that the world was moving STI-based economy, stressing that any financial policy that is not STI driven will surely fail.

He said that the dialogue was a key strategy for the full implementation of the Presidential Executive Order No. 5 which is aimed at placing Nigerian Service Providers, Farmers, Manufacturers, Youth, Women and other National Stakeholders at the centre of the Nigerian Economy.

Chief Ikoh pointed out that the dialogue was key to the establishment and implementation of the Technology and Innovation Centres for Global Competitiveness.

The dialogue, he added, will further serve as an avenue for the Promotion of Technology Utilization, Strengthening of Technology Management and Information Systems.

According to Chief Ikoh, “As a result of this Executive Order NO.5, the Federal Ministry of Science, Technology and Innovation is charged in section 5, with the responsibility to establish Technology and Innovation Centres to utilize and strengthen the Technology Management capability and Information systems, within the respective geo-political zones to publicize and promote Nigeria’s drive towards productivity and global competitiveness at the zonal levels.”

On the merits of the dialogue, he further explained that the dialogue “is aimed at establishing a framework for consultation, sharing experience, information and practices as well creation of a conducive environment for interaction among Scientists, Researchers and Inventors working on projects in different geopolitical zones of the country and internationally. The Centre will also serve as medium for presentation and analysis of research findings and results for possible patenting and commercialization.”

He stated that Nigeria will achieve her diversification of the economy in line with the theme of the Dialogue, “Achieving Nigeria’s Competitiveness and Improved Foreign Exchange Earnings through Science , Technology and Innovation” is intended to enable stakeholders produce an effective and efficient National Strategy document to support the Monetary policies, Fiscal Policies as well as trade policies of government for a better and improved economy.

The Minister stated that the dialogue and Presidential Executive Order NO.5 will ensure favourable repositioning of Nigeria socio-economic status among comity of nations, and then called on Nigerians to support the Implementation of Executive Order No. 5.

Earlier, the National Coordinator, Strategy Implementation Task Office for Presidential Executive Order No. 5, Engr. Ibiam Oguejiofor, reiterated the utmost importance of STI to the socio-economic development of the Country vis- a-vis the transformation from consumption to production based economy. He further stated that the sensitization across the six geopolitical zones is an opportunity for Nigeria to change its narrative, do things differently and achieve greater results.

Also speaking, the chairman Senate Committee on Science, Technology and Innovation, Senator Uche Ekwunife, represented by Enugu State Commissioner for Science and Technology, Sir Obi Kama, acknowledged the timing of the zonal dialogue as apt especially as the country is transiting from resource to knowledge based economy.

She urged the South Eastern States to key into this opportunity for global Competitiveness, productivity and sustainability.