- Minister: STI holds great potential for Nigeria’s economic diversification, against oil prices vulnerabilities
By Hillary Asemota
The Federal Government will tomorrow (Monday 16) flag off the 7th edition of the Science Technology and Innovation (STI) Exposition programme: tagged 2023 STI EXPO at the Eagle Square Abuja, Federal Capital Territory (FCT).
The EXPO according to the Minister of State for Science Technology and Innovation (STI), Chief Henry Ikoh, has as its Theme: ‘Actualising Effective Diversification of the Nigerian Economy through Science, Technology and Innovation’ will be last in President Muhammadu Buhari Administration two term tenure as President of Nigeria.
The first edition of the Expo, Ikoh, recalled, started in 2017, adding that the Expo was designed to strategically showcase the use of science technology innovations and majorly, the Research and Development (R/D) products and results of the FMSTI’s agencies with the intention to attract investors.
The Minister reiterated that the country’s economy has long been dependent on the oil and gas sector, explaining that the volatility of oil prices and the need to diversify the economy have made it clear that we need to explore new opportunities and sectors to drive economic growth.
He said: “STI has the power to transform the Nigerian economy in several ways. It can lead to the creation of new industries and businesses, thereby increasing employment opportunities and boosting economic growth.
“I can lead to the development of new products and services which can be exported to other countries thereby increasing foreign exchange earnings. It can also lead to the development of new technologies that can be used to improve the efficiency and productivity oof existing industries thereby increasing competitiveness.”
The Minister, said government is bent on creating an enabling environment for innovation and invention which include providing access to funding, creating culture of innovation within government and private sector and encouraging collaboration between the public and private sector.
One of the high points of the programme, will be the presentation of the three (3) best young scientists of Nigeria, 2023 to President Muhammadu Buhari for a hand shake, the granting of annual scholarship to these students to study any science course of their choice in any of our Universities from First Degree up to the PHD levels. He added that there will be presentations of awards to outstanding research and development products at the closing ceremony on Friday, 20th. The Minister called on Nigerians interested in inventions and innovations from Research Institutes, Federal/States, MDAs, Polytechnic, Industrial Laboratories, Private Sectors, International Communities, CSOs, Organised Private Sector (OPS), Nigerians in Diaspora to the 2023 Expo to showcase their inventions and innovations.
