Nigeria’s Minister of Science, Technology and Innovation, Dr. Ogbonnaya Onu, has said that strategies to attain the implementation of 0.5% (GDP) will promote creativity, Innovation, to achieve national socio-economic development.
Dr. Onu stated this in Abuja at the Consultative Meeting On the Provision of Minimum Of 0.5% Of GDP for Funding Science, Technology and Innovation,STI Sectors In Nigeria.
The Nigerian Government declared at the 2021 edition of the Annual STI Expo, that 0.5% of the country’s GDP would be channelled towards the development of STI to ensure continuous productivity and sustainability of the Nation.
The Minister further stated that countries that have made giant strides in sustaining their economy invest heavily in STI Sectors which has guaranteed their continuous growth as well as sustain their industrial development.
According to Dr. Onu, the decision to increase the nation’s STI funding was taken at the African Union’s executive council in 2006 to establish a target for all member States to allocate 1% of the GDP investment in Research and Development.
The meeting, he said has offered the opportunity to work out plans for attaining the implementation of 0.5% of the GDP to STI sector.
“The global economic landscape is experiencing rapid changes globally especially especially creating consideration creating considerable new opportunity and challenges. It is therefore obvious that if Nigeria, given it natural endowments, is to successfully transform its economy and takes her rightful place in the comity of nations.
” In other words, Nigeria must emulate countries , China, Singapore and other Asian countries, by taking decisive action in investing heavily in Research abd Development sector inorder to put the nation on the path of viable and sustainable economic growth and rapid transformation,” he explained.
Earlier the Minister of State, Barrister. Mohammed Abdullahi said that STI and its integration in socio-economic development process must be accorded the highest priority through adequate funding in Research and Development sector.
Also Gombe State Commissioner of Science, Technology and Innovation, Dr. Aishatu Maigari called for inclusion of people who are not in the R&D sector to be partakers of the increased funding for STI.
In a goodwill message, Katsina State Commissioner for Rural Development and Education and overseeing for STI, Mustapha Kanti Bello said the increased funding for STI is a welcome development that could unlock the economic potentials in Nigeria.
Confidence Okwuchi
