Abuja: The Federal Government has reiterated its commitment to building a knowledge-based economy driven by Science, Technology, and Innovation (STI). The Minister of Innovation, Science, and Technology, Dr. Kingsley Udeh, emphasized this commitment at the opening of the two-day 7th Annual Scientific Conference of the Nigerian Academy of Science (NAS) in Abuja on Wednesday. The conference, themed ‘From Research to Market: The Making of Knowledge-Based Economies’, focused on transitioning from mere knowledge generation to robust commercialisation based on STI.
According to News Agency of Nigeria, Dr. Udeh, represented by Dr. Olugbenga Fadigbe, highlighted that the commercialisation of research products was a priority upon his appointment. He emphasized the Ministry’s dedication to fostering Nigeria’s innovation ecosystem by promoting demand-driven research and supporting technology incubation and transfer. The Ministry aims to enhance Public-Private Partnerships (PPP) and develop homegrown solutions addressing national needs in sectors like agriculture, energy, health, infrastructure, and industrial development. Udeh asserted that sustainable development is best achieved when scientific research is linked to clear commercialisation pathways that transform knowledge into market-ready innovations with measurable economic and social value.
The Minister of Budget and Economic Planning, Sen. Abubakar Bagudu, represented by Mr. Auwal Mohammed, Director for Economic Growth, stressed that sustainable development is unattainable without linking research to productive enterprises. He noted that a knowledge-based economy flourishes where ideas are nurtured, innovations are commercialised, and research findings are effectively communicated to policymakers, entrepreneurs, and industry leaders. Bagudu reaffirmed the Federal Government’s recognition of the indispensable role of STI in national development and its commitment to strengthening partnerships with institutions like NAS.
Mrs. Ibukun Awosika, Founder of The Chair Centre Group, in her keynote address, lamented the disconnect between university science departments and the market. She advocated for linking science-based industrial research to specific university departments to ensure that research findings do not remain unused. Awosika emphasized that Nigeria has the innovative minds and interest to transform challenges into economic assets, as science is about solving real-world problems. She suggested that scientists should be responsible for identifying societal issues, finding interested industries, and collaborating to address these challenges. Developing the right strategy is crucial for implementing goals, she noted.
Prof. Abubakar Sambo, President of NAS, underscored that for Nigeria to achieve growth and development, research must extend beyond laboratories and academic institutions to impact everyday life. He highlighted the country’s challenge of insufficient mainstreaming of research results into economic growth and development, despite its rich human capital, natural resources, and youthful population. Sambo called for collaboration among scientists, policymakers, and stakeholders to create an environment where research outputs meet industrial needs, innovations reach the market, and knowledge generates wealth and employment. His vision is to position Nigeria as a hub for scientific excellence and technological advancement in Africa.