Minister of Science, Technology and Innovation, Dr. Ogbonnaya Onu, has said the federal government will increase investment in the development of key and groundbreaking scientific and technological innovations through policies and ensuring harmony of research efforts from different research institutions.
The minister said this while declaring open the 19th meeting of the National Council on Science, Technology and Innovation with the theme “Investment in Research and Development: A Necessary Tool To Improving Nigerian Economy”, in Abuja yesterday.
Onu emphasized that investment in research and development will improve productivity and build the Nigerian economy, stressing that the government will do whatever it takes to increase investment in the sector so as to increase Nigeria’s global competitive rank.
The minister according to a statement by the ministry’s press unit, noted that efforts are being made to review the current Science, Technology and Innovation (STI) policy to accommodate and meet the needs of the 21st century and proffer solutions to teeming challenges facing Nigeria today.
He stressed that Nigeria must improve its ranking in Global Innovation Index (GII) and strive to join the industrialized nations which grew their economies through technology and innovations fuelled by research and development.
He said “Nigeria is determined to be a major global player in space technology;” adding that “Nigeria is the first sub-Saharan African country to launch and develop space technology.”
The annual council which is the highest decision making body on science policies in Nigeria will help accelerate economic development and give the country a global competitiveness advantage, Onu asserted.