Federal government says it will henceforth dedicate five percent of the country’s gross domestic product to Research and Development so as to fast-track meaningful development in the country.
President Muhammadu Buhari disclosed this at the opening session of the ongoing week long 2023 Science, Technology and Innovation Expo tagged, Actualizing Effective Diversification of the Nigerian Economy Through Science, Technology and Innovation in Abuja.
The President represented by his Chief of Staff, Professor Ibrahim Gambari, said his administration had made efforts in establishing a virle Science, Technology and Innovation Ministry, because of its belief that no nation of the world has been developed without the utilization of the Science, Technology and Innovation apparatus
He said in the quest to develop scientifically, his administration placed a special premium on the Science, Technology and Innovation sector for the utilization of local raw materials and personnel, which led to the signing of the Presidential Executive Order Number five for the Planning and Execution of Projects, Promotion of Nigerian Content in Contracts, Science, Engineering and Technology on second February, 2018.
He urged Researchers, Inventors and Innovators participating in the Techno Expo to be resolute as his government has confidence that their Research and Development outputs will make Nigeria a truly great productive nation respected all over the world for its exploits in the Science, Technology and Innovation sector.
On his part, the Minister of Science Technology and Innovation, Dr. Adeleke Mamora, said the annual Science, Technology and Innovation Expo is a gathering for Scientists, Researchers, Inventors, Innovators, Investors Entrepreneurs, and citizens of Nigeria, which provides them the opportunity to set the nation on the path of economic greatness.
He described Science, Technology and Innovation as the foundation and propelling force for industrial leadership of nations and business entities as well as economic success on the global map.
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