Minister Urges Private Sector To Invest In Research Outcomes

The Minister of Science, Technology and Innovation, STI, Dr Adeleke Mamora has called on the Organised Private Sector to take advantage of the research results and prototypes showcased at the just concluded 2023 STI EXPO for the socio economic development of Nigeria.

The Minister said this at when he declared the five day event closed in Abuja Nigeria’s capital.

The gathering was the 7th edition of the Science, technology and innovation EXPO which brought together researchers, innovators and inventors for the purpose of commercialisation.

Dr Mamora said that the government was committed to supporting the innovators as they bring their ideas to the market.

“Your contributions have been invaluable, and we are proud to showcase the talents and capabilities of our nation’s brightest minds. We encourage you to continue to pursue your ideas and innovations, as they are the driving force behind the diversification of our economy. We are truly impressed by the level of creativity and ingenuity on display, and we are committed to supporting these individuals as they bring their ideas to market. We believe that supporting young entrepreneurs and inventors is key to diversifying the Nigerian economy and creating new opportunities for our people” he said.

Dr Mamora noted that in as much as there was a strong interest in investing in Nigeria, there was still work to be done in creating a more conducive business environment for local entrepreneurs.

He therefore pledges the ministry’s commitment to work with the government and private sector to address the issues and attract more investments to the country.

International Partners

The Minister further acknowledged the role of international partnerships in driving innovation and development in Nigeria.

He says, “We need to remind ourselves that the role of Science, Technology and Innovation in diversifying the Nigerian economy is not a one-time event; it is a continuous process that requires the effort of all stakeholders. We must sustain the momentum, continue to support and encourage the growth of technology and innovation and also create an enabling environment for the private sector to thrive”.

The permanent Secretary of the Ministry, Mrs Monilola Udoh noted that the EXPO was a testimony of the Ministry’s bold initiatives towards developing a sustainable and inclusive industrial growth of the economy in the years ahead.

“l wish to reiterate further that these initiatives are aimed at creating the right atmosphere for industrial growth; promoting the synergy and collaboration between the industry and academia and at the same time, strengthening the innovative skills of researchers, backed with other policy measures that encourage the patronage of Local Content such as leather & leather products, renewable energy, import substitution on chemicals, among others. At this point, we can boldly state that the Science, Technology, and Innovation Expo has provided the needed impetus for entrepreneurship development and innovation in Nigerian STI Eco-system” she said.

Highlights of the events were the presentation of awards and prizes to the best three out of each category of exhibitions from research institutions, tertiary institutions, states ministry categories, technology entrepreneur’s categories, and the Junior Engineers Technicians and Scientists JETS.

The five days event had the theme, Actualizing Effective Diversification of Nigerian Economy through Science, Technology and Innovation.

Source: Voice of Nigeria