Abuja: The African University of Science and Technology (AUST) has made a compelling call for Africa to shift its focus from imported solutions to fostering homegrown innovation through research commercialisation. Prof. Peter Onwualu, President of AUST, highlighted this initiative during a news conference in Abuja, preceding the Africa X Summit scheduled for April 27 to 29.
According to News Agency of Nigeria, Prof. Onwualu emphasized that the continent’s reliance on imported technologies and semi-processed inputs is undermining sustainable development efforts. Despite Nigeria’s youthful and well-educated populace, abundant natural resources, and burgeoning innovation hubs, the nation continues to struggle with translating knowledge into measurable economic gains. Prof. Onwualu noted the systemic failure hindering the commercialisation of research findings, despite the presence of over 300 higher institutions and numerous research centers.
The AfricaX Summit aims to address these challenges by providing a platform for innovators, investors, entrepreneurs, and policymakers to collaborate. The event will facilitate matchmaking between innovators seeking to scale their solutions and investors searching for viable opportunities, with the ultimate goal of bringing innovations to market. The summit will also promote collaboration among stakeholders, including government bodies responsible for policy development.
Prof. Onwualu mentioned that the summit would extend its reach beyond Nigeria, welcoming participation from other African nations. This initiative aligns with the continent’s push for economic integration under frameworks like the African Continental Free Trade Area. He also called for the implementation of the National Research and Innovation Fund to ensure sustainable funding for research and development.
Mr. Kingsley Ogwudu, Chairman of the Local Organising Committee, described the summit as a pivotal moment in Africa’s innovation journey. He emphasized the need for Africa to transition from being a consumer of innovation and technology to becoming architects of solutions for its own challenges in sectors such as health, education, climate change, energy, and fintech. The summit will focus on innovation ecosystems, investment and finance, youth and women empowerment, and public-private partnerships, aiming to reverse brain drain by offering opportunities for African talents to develop globally relevant solutions.
The AfricaX Summit is expected to become an annual event, rotating across different African countries to enhance collaboration, knowledge sharing, and innovation across the continent. The theme of the summit is ‘Reshaping the Future of Africa through Innovation, Investment and Collaboration.’