Business

October 25, 2012

FG identifies technology as pivot to economic growth

By Dotun Ibiwoye

The federal government has disclosed that it plans to use technology in driving its transformation agenda and ensuring progress in the economy.

Speaking on the topic ‘Technology as a Pivot for Transformation’,  at the Fourth Biennial lecture of the Alumni Association of the Federal University of Technology, Owerri (FUTO), Minister of Science and Technology, Prof. Ita Bassey Ewa, stated that technology is a major means in the attainment of the vision 20:2020 goal in capacity development and innovation.

The Minister who was represented by the Director General, Federal Institute of Industrial Research, Oshodi, Mrs Gloria Elemo, averred that the government was committed to positioning the country at an enviable state with the recent approval of the new National Policy on Science, Technology and Innovation, ST&I, by the Federal Executive Council.

The policy thrust is on building synergy through seamless collaboration of all stakeholders in education and research, both in the public and private sectors.

Ewa who has been a vocal advocate for venturing into the unexploited science and technology potentials of Nigeria, stated clearly in the foreword of the policy document that if the Transformation Agenda of the present administration must be successful, science and technology must be integrated into national socio-economic development processes and must be accorded the highest priority. He also stressed that technology remains the most potent tool of this era for development and transformation in all facets of human endeavour and undoubtedly pivotal to employment generation, poverty eradication and economic growth.

According to him, “The key ingredients of development of any nation are subsumed within the trio of Technology, Raw Materials and Capital. To all intent and purpose, it is technology that drives and dictates the relevance of raw materials in its transformation into capital for investments that will impact on the socio-economic life of the people of Nigeria.

“One notable feature of this policy is the emphasis innovation which has become a global tool for fast-tracking sustainable development. This policy is a clear demonstration of the country’s renewed commitment to ensure that our R&D engagements enhance wealth creation through the growth of small scale enterprises.

“The policy also supports the establishment and strengthening of coordination and management of ST&I activities within a virile National Innovation System (NIS).