By Hillary Asemota
President Muhammadu Buhari on Monday assured that the Federal Government is committed to actualize the 5 percent Gross Domestic Product (GDP) to the Ministry of Science Technology and Innovation to drive scientific inventions, innovations for the overall development of the economy.
President Buhari, who was represented by his Chief of Staff, Prof. Ibrahim Gambari made the disclosure at the opening ceremony of the 7th edition of the STI Exposition in Abuja.
He recalled that at the 5th edition of the Expo in 2021 was in tandem with the decision made by the African Union Executive Council in 2006 to establish a target for all member states of 1% of GDP investment in Research and Development (R&D) in order to improve innovation, productivity and economic growth.
While declaring Federal Government stance on the 0.5% commitment, he said: “At this juncture, 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 Research and Development (R&D) in order to fast track meaningful development.”
According to him, the Government will continue to support the activities and programmes of the Ministry through improved budgetary allocation, welfare and infrastructures to enable the system play its vital roles in catering for the livelihood of the nation.
The purpose of the EXPO, he added, is geared towards showcasing research and development products, goods and services, for the purpose of commercialization which is in line with moving Nigeria from consumption to production economy, stressing that no nation has ever developed without the utilization of the STI.
He acknowledged that the federal government has placed a special premium on the STI sector for the utilization of our local materials and personnel, adding that that is why the Presidential Executive Order NO. 5 was expeditiously signed for the planning and execution of projects and promotion of Nigerian content in contracts, science, engineering and technology.
He recalled that the Executive Order No.5 is an instrument that our scientists, engineers and other allied Professionals have been yearning for years, to contribute effectively in the development of Nigeria.
President Buhari revealed that the National Policy on welding and welding related fields was approved in November, 2022 as part of the Federal Government’s efforts to fast-track industrialization and sustainable development that will encourage Nigerians towards acquiring certificates necessary for employment in the field as their foreign counterparts.
He said the government has commenced partnership with state governments in each of the 6 geopolitical zones where technology and Innovation Centres have been established, which will serve as a forum of stakeholders in the STI ecosystem, he added.
President Buhari, enjoined all researchers, investors and innovators who participated in this year STI EXPO to be resolute as the nation have confidence in their Research and Development (R&D) output which will enhance Nigeria’s economic development and growth.
On the award for the 2023 young scientist at the event, he said: “I would like to personally congratulate the winners of this year’s 774 Young Nigerian Scientists Presidential Award (774-YONSPA).
“I commend your creativity and competitive spirit towards your academic pursuit to become future scientists, engineers and technologists to better the lots of our nation. I am pleased to announce that the candidates who emerged first, second and third respectively in the final examination of the recently concluded 774 Young Nigerian Scientists Presidential Award Competition have all been granted full scholarship up to Doctor of Philosophy (PhD) level in any science-related discipline of their choice in any of our universities.
“It has been the practice of my Administration as we do award scholarships since the maiden edition of the Science, Technology and Innovation Expo in 2017, to the three best students.”
In a remark, the Minister of Science, Technology and Innovation, Dr. Adeleke Mamora, said that 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.
He further added that countries who have made significant progress towards sustainable economic development owe their success to investment in STI.
Earlier, the Minister of State for Science, Technology and Innovation, Chief Henry Ikechukwu Ikoh said that the Ministry is committed to ensuring that STI is used to drive economic growth and development of the country due to its strategy to encourage commercialization of Research and Development products and services.
