Industrialization and Technology are key factors in driving any economy for meaningful development.
This was the position of the Minister of Innovation, Science and Technology, Chief Uche Nnaji during an official tour of the Technology Incubation Centre, TIC, in Agege, Lagos state.
Chief Nnaji who assured the Federal Governmen’s readiness to support industrialists and Entrepreneurs in achieving their goals lauded the National Board For Technology Incubation, (NBTI) for churning out thousands of industrialists over the years.
“I am seeing some industrialists being incubated in this place and from here they move to their own businesses, they have churned out millionaires” the Minister added.
“Under the renewed hope agenda ofPresident Bola Tinubu, we as ministers are eager to move and this is why we are moving up, hence more has to be done in every quarter and jobs have to be created,” he said.
He explained that the federal government plans to establish a Research and Development Fund where SME owners can leverage on.
“Before we didn’t have a Research and Development Fund but we are at the verge of creating it where people that have excelled in innovation, technology can push their hands and take funds to develop what they have researched,” he said.
Earlier, the Director General National Board For Technology Incubation, NBTI, Dr. Patricia Chukwu who stressed that technology is the key to unlocking solutions to some of the most pressing issues in the country commended the support of the Ministry.
“It is undeniable that in the swiftly changing landscape of today’s world, progress heavily relies on technological advancements. Whether in artificial intelligence, renewable energy, biotechnology, or blockchain, the potential is boundless. Yet, to actualize these opportunities fully, we must adopt a culture that champions innovation, collaboration, and entrepreneurship,” she said.
Dr. Chukwu who called for more support of the ministry to fully maximise the potential embedded in the agencies, added that the NBTI focuses on identifying and providing support for local talents, nurturing the upcoming generation of innovators and entrepreneurs who will steer the country’s technological progress.
“Like Oliver Twist, we crave for more funding to support the commercialization of numerous research projects that are ready for commercial exploitation and are currently lying on the shelves of various research institutes throughout the Country” She stated.
“We are confident that by working together with all involved parties, we can close the divide between research and the market, stimulating innovation, generating employment opportunities, and spurring economic growth,” she stressed.
By Georgina Humphrey, Edited By Grace Namiji
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