The central message of the 2023 Science Technology and Innovation (STI)Exposition that ended in Abuja on Friday has been the diversification of the Nigerian Economy from over dependence on oil to other areas to generate revenue.
This development was triggered by the difficulties in the oil sector occasioned by fluctuating prices that are often unfavorable to the Nigerian economy in recent times.
And to buttress the seriousness of its diversification agenda, the federal government has elected to invest more on Science Technology and Innovation (STI) specially to boost research and development (R&D) component to drive Industrial growth that will put the nation among the comity of nations.
Therefore, it was apt when the federal government moved to actualize the 0.5 per cent of Nigeria’s Gross Domestic Products (GDP) earmarked to improve Research and Development (R&D) in order to fast-track Nigeria’s drive to industrialisation through Science Technology Innovation (STI).
President Muhammadu Buhar,i revealed this in his speech while declaring open the 7th Edition of the Expo, which commenced in Abuja on Monday with the theme “Actualising Effective Diversification of the Nigerian Economy through Science, Technology and Innovation (STI).”
The 5-day exposition was aimed to bring to the fore the capabilities of Nigerian scientists, engineers, inventors/innovators in contributing to the economic diversification of Nigeria; promote collaboration among research institutions, researchers/inventors and investors to facilitate the growth of indigenous manufacturing and commercialisation of Nigerian products.
It is also aimed to support technology transfer and fast-track the implementation of the National Science, Technology and Innovation Road Map 2030.
President Buhari, who was represented by his chief of staff, Prof Ibrahim Gambari, said the dedication of the 0.5 per cent of the GDP to R&D and the increase in the budgetary allocation to the ministry of science, technology and innovation have demonstrated his administration’s resolve to diversify and develop the Nigerian economy through STI.
President Buhari said, “I would like to inform you that we have made an effort in actualizing this through our communication to the National Economic Council to come up with modalities in achieving this noble intention of the government.”
The president also said his administration placed special premium on the STI sector for the utilisation of Nigeria’ local materials and personnel, which was why he signed the Executive Order Number 5, in February 2018 for the “Planning and Execution of Projects, Promotion of Nigerian Contents in Contracts, Science Engineering and Technology.
“It is on record that this Order did not only strengthen and support scientists, it has strengthened other professionals, and encouraged inter -professional collaboration towards building the capacities of Nigerians and creating opportunities for all,” he added.
President Buhari noted that the inauguration of the Presidential Monitoring and Evaluation Council (PMEC) on October 14, 2021 and the establishment of the six Technology and Innovation Centers of Excellence across the six geo-political zones of the country by his administration was to foster stakeholder’s dialogues to proffer solutions for industrialisation of the county towards job creation and wealth generation in order to arrest youth restiveness and social vices in the country.
He also emphasised the role of the private sector in nurturing innovation in Nigeria, adding that the government has been partnering with them in investing directly as well as universities and research institutions to carry out research that will lead to the commercialisation of Nigerian products for the global markets.
Minister of science technology and innovation, Adeleke Mamora, in his speech said that the expo is an endeavor to set the country on the path of economic greatness and pave the way to economic diversification geared towards sustainable national social economic development.”
He noted that STI constitutes the foundation and driving force in the industrial leadership of nations and business entities as well as economic success on the global scale especially in the period of recovery from the COVID-19 interruptions.
Minister of state for science technology and innovation, Henry Ikechukwu Ikoh, in his remarks, said the ministry is committed to ensuring that STI is used to drive economic growth and development in Nigeria.
He added that the expo was aimed to encourage interactions between researchers, innovators and investors with a view to commercializing research results, inventions and innovations from Nigeria’s tertiary institutions.
All the sixteen agencies under the ministry including private companies were at the Eagle Square venue of the expo to witnessed innovations and inventions made by the agencies.
One of the agencies, the National Center for Technology Management (NACETEM) based in Osun State, laid emphasis on Nigeria’s Science, Technology and Innovation (STI) policy document(Reviewed in 2022) as the basis on which the Nigerian economy can be diversified so the country can be less dependent on oil revenue.
The overseeing director-general of the agency, John Akintayo Omimakinde, stated this in his address during the ‘NACETEM Day’ during the STI Exposition.
He noted that the STI policy if judiciously followed will provide solutions to Nigeria’s quest for local production that will lead to economic growth and commercialisation of Nigeria’s products for global competitiveness.
He said, “ NACETEM as a foremost knowledge support and policy research institution in the country, is convinced that the current STI policy is a document that can put us in the direction to go. All we need to achieve sustainable development and diversification of Nigeria’s economy is contained therein, but it appears we have not fully own it and deploy it appropriately. This has to change as implementing the STI policy as reviewed in 2022 will set Nigeria on the path to wealth.”
Chairman of NACETEM governing board, Haaatrup Adewale Olatunji, in his address said that Nigeria must be involved more in STI, because “ it is an enabler of rapid growth and development.” He added that deploying STI to other sectors “will not only open up diverse opportunities for Nigerians in terms of employment but also boost the economy as more revenues will be generated from other areas of the economy.”
In her remarks, the permanent secretary of the ministry of science technology and innovation, Monilola Udoh, called on all the agencies under the ministry to collaborate and coordinate their efforts to produce materials of commercial value even as she advised against duplication of research products in order to avoid human resource wastage.
She added that Nigeria is blessed abundantly with the resources to that will put her in the global map of Industrialised nations, stressing that all that is required is the determination and patriotism to harness the resources for national development.
In the same vein, the director-general of the Federal Institute For Industrial Research Oshodi (FIIRO) in Lagos, Mrs. Jummai Adamu, decried the technology gap in Nigeria and called for more investment to harness the technological potential of the country for industrial development.
Adamu made this call in her remarks during the ‘FIIRO Day’ at the STI Expo, stressing that Nigeria must stop over-dependence on oil and gas. She added, that the country can achieve that through STI in order to transform the country from consumption to production.
“Our mono-economy dependence on oil and gas, which is non-renewable, has kept us far away from meaningful development that would have made us respected among comity of nations. This is attributed to our inability to properly utilise STI as the fulcrum for modern development.
“It is to be noted that all developed and developing countries all over the world are where they are today because they realized that it is only through Science, Technology and Innovation, that all our problems can be tackled,” she said.
She added that science, technology and innovation hold the key to the present and future development of any nation as it plays a fundamental role in wealth creation, improvement of quality of life and real economic growth and transformation in any society.
“STI sector will enable us to come out strong and tackle our technological challenges with ease thereby arresting the menace of poverty and the evil youth restiveness, terrorism, kidnapping and banditry currently ravaging the country,” she noted.
Mrs. Adamu however, commended the current government’s drive for economic diversification, adding that one of the key components that aid economic diversification is technology transfer, which is the innovation capabilities of any organisation that wants to thrive technologically.
She pointed out that increase in economic diversification will expose Nigeria to opportunities to utilise its technological prowess and become more capable to generate new technological solutions due to cross- fertilisation of ideas among different knowledge areas of diversification, thus producing positive effects on our innovation performance.
While the Expo may have achieved considerable success, there are so many challenges that have to be tackled before Nigeria can make any meaningful impact. Issues of funding R&D have been so challenging because of paucity of funds.
Even the 0.5 per cent of the GDP dedicated for R&D is a shortfall of the 1 per cent recommended by the African Union. Therefore, the need for extra- budgetary sources to fund STI has become critical if Nigeria must achieve its objectives.
