Government urges investors to adopt research products

Government urges investors to adopt research products

The federal government is worried that most of the products generated from research activities in Nigeria are lying on the shelf and have not translated to goods and services that will impact the lives of Nigerians.

Mohammed Abubakar, the minister of science and technology expressed this worry at the opening of 2010 National Science and Technology Week on Monday in Abuja. Mr Abubakar said that these products would transform Nigeria and enable her secure a prominent position as one of the industrialized nations but the investors seem uninterested in utilizing them.

“Today, there is a long inventory of research findings which have remained on the shelves awaiting the patronage of investors,” he said. “It is, however, sad to note that most of the research outcomes which otherwise would have catapulted Nigeria to the club of technologically developed nations are, unfortunately, not being translated into essential goods and services.”

Nigerians prefer importation

He further added that a lot has been done but most Nigerians are not interested in what we are doing because they prefer importation but that technological investment has its gestation period.”Entrepreneurs are not patient enough to wait for that period. They want turnover in 48 hours that is why we hold this NASTECH week to provide the avenue for them to come and look at what we have done and partner with research institutes to upscale it and produce goods and services required.

Represented by Femi Olayisade, permanent secretary of the ministry of science and technology, the minister further stated that the lack of interest in taking up research and development is a challenge that requires urgent attention.”The ministry is pursuing various strategies that would facilitate the adoptions and development of research outcomes,” he said.

“Already, the government has established the National Board for Technology Incubation (NBTI) to assist entrepreneurs through the establishment of technology incubations in all the states of the federation.Also, through the Presidential Committee on Inventions and Innovations, government gives grants to worthy investors and innovators to upscale their inventions or innovations.”

The minister also hinted that the theme of this year’s technology week tagged “Science and Technology: Key to achieving 7-Point Agenda,” was quite apt in view of the immense contributions science could make to the attainment of the 7-Point Agenda.

He stressed that NASTECH 2010 would provide another window for interaction between researchers, investors, innovations and investors as well as stimulate research and development/industry linkages towards ensuring that science and technology contributes to national development and the attainment of Vision 20:2020.

He added that the ultimate objective was to acquaint investors with the stride made in the nation’s scientific and technological development and to encourage interested entrepreneurs to commercialize the outcomes of research and development.

NASTECH 2010 is expected to feature exhibition, research and investors’ forum and technical sessions. Participants at the event included junior engineers, technicians and scientists from all zones of the federation.

This, he said gives credence to the fact that Nigeria is on right track and programmes like NASTECH are indeed preparing future scientists and engineers that will lead our beloved Nigeria to greater heights.

Click to Read more Financial Stories

Leave a Reply

Your email address will not be published. Required fields are marked *