Nigeria’s President, Muhammadu Buhari has announced that modalities are in place to implement the allocation of 0.5% of the Nation’s Gross domestic Product, GDP to Research and Development in the country.
The President who was represented by his Chief of Staff, Ibrahim Gambari was speaking at the opening ceremony of the Science, Technology and Innovation EXPO 2023 holding in Abuja, Nigeria’s capital.
President Buhari revealed that the National Economic Council has been communicated to come up with modalities in achieving the aim.
“In tandem with the decision made by the African Union Executive Council in 2006 to establish a target for all members states of 1% of GDP investment in Research and Development (R&D) in order to improve innovation, productivity and economic growth. At this junction, we want to reiterate that having come to terms with the challenges of this critical sector of the economy, we will henceforth dedicate 0.5% of our GDP to R&D in order to fast track meaningful development,” he said.
Budgetary Improvement
The president promised further improvement of budgetary provisions, welfare of human resources and infrastructures as well as training and re-training of personnel, both locally and internationally for global competitiveness.
“As a government, since we took over power in 2015, we demonstrated our love and desire to diversify our economy by the application of the Science, Technology and Innovation through improving the budgetary allocation of the Federal Ministry of Science, Technology and Innovation; whose budget before then was so meagre that it could not have achieved any meaningful economic development” the President said.
The President further recalled efforts made to improve the Science Technology and Innovation sector under his administration to include the convention, for the first time, of the National Research and Innovation Council meeting, the signing of the Executive Order No. 5 for the Planning and Execution of Projects, Promotion of Nigerian Content in Contracts, Science, Engineering and Technology, inauguration of the Presidential Monitoring and Evaluation Council and the establishment of six Technology and Innovation Centres of Excellence across the six geopolitical zones of the country amongst others.
Scholarship Grant
President Buhari also announced scholarship grant of up to Doctor of Philosophy (PhD) level to the three best secondary school students that emerged winners at the just concluded 774 Young Nigerian Scientists Presidential Award competition.
“It has been the practice of my Administration as we do award scholarship since the maiden edition of the Science, Technology and Innovation Expo in 2017, to the three best students,”the president added.
The Minister of Science, Technology and Innovation, Dr Adeleke Mamora said that over the years, Nigeria has shown signs of great future with the utilisation of Science, Technology and Innovation as the catalyst of development of its abundance of natural and human resources.
He however noted that it must be accompanied by a condusive working environment that encourages the application of the skills acquired through STI.
“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. Countries who have made significant progress towards sustainable economic development, owe their success to significant investments in STI, which ensures uninterrupted increase in productivity and possibility of equitable and sustainable industrial development,” he said.
Dr Mamora said that charting the course of technological development; improved Research and Development, Policy Formulation, Supervision, and Promotion of all matters of STI ecosystem in the country amongst others are some of the strides of the Ministry made recently in fulfilling its mandate.
The Chairman House Committee on Science, Technology and Innovation, Beni Lar said that the energy commission amendment bill which will make the energy need of the nation more sustainable is awaiting assent by the Nigerian President
“The methanol project picking up today fully, so Nigeria’s energy and electricity can also be produce from biomats. The efforts we are making in the National Assembly as far as bills are concerned, we have a bill awaiting assent from Mr. President, the Energy Commission amendment bill, to make the energy Commission more self sustaining, to provide greater resources for it so that they can meet the energy need of the Nation. Once that bill is signed, we will see almost the end of electricity shortages because we will have alternative and renewable energy sources” she said.
The house committee chair added that Nigeria cannot rely on a mono economy system where everything is from oil and gas but to have its ingrown technology.
Highlights of the events were the unveiling of National Policy on Methanol Fuel Production Technology and the Presentation of prizes to the top three winners of the 774 young Nigerian Scientists Presidential Award.
Confidence Okwuchi
