By Dwelleth Morountodun
The Federal Government through the Ministry of Science, Technology and Innovation (STI) on Tuesday flagged off the establishment and implementation of the technology and innovation centres geard towards upscaling its global competitiveness index and production of goods and services.
Speaking at the launch of the technology and innovation centres in Abuja, the Minister of Science Technology and Innovation, Dr. Adeleke Mamora, said the brainstorming session which attracted stakeholders from academics, private sector and researchers, will serve as an avenue for the promotion of technology utilization, strengthening of technology management and information systems, the facilitation of commercialization and global competitiveness.
He added that the dialogue will unveil strategies for the full implementation of the Executive Order 5 (EO5).
He expressed delight on the flag-off of the national dialogue between government and other stakeholders in the science, technology and innovation ecosystem, comprising the academic and research institutions, organised private sector, professional bodies and the public.
Mamora, said: “Though, this is the first dialogue ever to be held in line with the E0-5, it has also become important for STI to play an important role in the fiscal and monetary policies of the country for a better today and tomorrow.
“Over the years, the role of STI in the developmental agenda of the nation has been relegated. However, the dwindling revenue base and decline in foreign exchange earnings of the country, calls for serious concern, hence, the need to look inwards at the active impact Science, Technology and Innovation (STI) can play in reversing these trends.”
According to him, the flag-off: “Achieving Nigeria’s competitiveness and improved foreign exchange earnings through STI is very apt, which will enable stakeholders to produce an effective and efficient national strategy document to support the monetary, fiscal as well as trade policies of government for a better and improved economy.
This, he added will lead convergence points, stressing that the technology and innovation centers were established under the Presidential Executive Order No.5 and the 2022 STI policy.
While admitting that Nigeria’s global competitiveness index is though low, he said the upscaling of the competitiveness index and functionality of the EO5 are currently targeted at making policymakers and other stakeholders to work together to achieve short term growth and focus on long term prosperity for the country.
“It is equally important to note that there are declining trends in several areas of productivity which have not resulted in improved economic development. This is why this administration is innovating with a view to having a shift in policies most importantly the STI for economic recovery and growth. Let us not forget in a hurry that the economic transformation of the country should give a
measure of readiness to move to a greater height to drive productivity, sustainability and shared prosperity, thus achieving the aim of this government.” He said.
The Minister however, admitted that the COVID-19 headwind made a negative impact on businesses and thereafter stalled progress, explaining that the administration of President Muhammadu Buhari had shown and improved government’s responses to change, and collaboration between government and investors including firms.
Social safety net protection and sound financial institutional framework, he said have been tailored towards the economic transformation of the country.
He said: “Research and development capacity and capability of the country based on governance and planning as well as an adequate health system are being put in place to contribute resilience in all sectors. In 2019, the economic recession caused by COVID-19 continues to have an impact on the economic and social consequences of the people.
“The outbreak of the pandemic had led to high unemployment rates and poverty thereby reversing the gains achieved over the past few decades. The pandemic showed the inadequacies of infrastructure and policies, ranging from social protection systems to healthcare. The pandemic and its aftermath have shown that not much has been invested in the requisite innovation that could make our societies more inclusive, sustainable and resilient.
“The innovation ecosystems of the country are geared towards a drive aimed at generation of ideas, their translation into products, and the commercialization of these products on a large scale. It is a known fact that the success of this is dependent on several factors, such as a very strong knowledge-generation area (universities, research centres and laboratories), and the active collaboration between these knowledge centres and commercial businesses. We still hope to improve on this.
“The breakthrough in technologies will definitely deliver the right solutions. The long term research and development would give the desired breakthrough, it is therefore required that all hands must be on deck to achieve this feat.”
According to the Minister, the trajectory in business and research and development are the main
drivers of innovation including sound policies thereafter from good technological progress towards accelerating the goals of sustainability and shared prosperity, stressing that this was the reason for the establishment of the Presidential Executive Order-5.
He expressed optimism that sustainable implementation of the EO5 will lift the nation’s economy and put us back on track to economic progress.