Home Business Matters Business & Economy Economic Recovery: Science and Technology Minister inaugurates National Strategy

Economic Recovery: Science and Technology Minister inaugurates National Strategy

Dr Ogbonnaya Onu President Muhammadu Buhari
Dr. Ogbonnaya Onu and President Muhammadu Buhari

The Minister of Science and Technology, Dr. Ogbonnaya Onu, has inaugurated the National Consultative Committee for Competitiveness in Raw Materials  and Products Development in Nigeria. This is part of the commitment of the present administration to reposition the country on the part of sustainable development with irreversible indigenous revolution,

According to the Minister, “This national Strategy is a fact-based framework designed to harness the potentials of the country’s Research & Development (R&D) institutions in partnership with industries and Business, to fast track and redirect the high –way to orderly economic recovery, double digit growth and sustainable development”.

With this strategy, he explained that the nation will surely attain global competiveness in industrial production as well as in services. adding that Made-in-Nigeria products and services would gain international recognition.

Dr Onu noted that, Nigeria is anxious to move from a nation with potentials, to a truly great nation respected by other countries. He said that the Economic Recovery and growth Plan 2017-2020 has science, technology and innovation at the center of its operation to change our economy from resources based to knowledge based.

“All over the world, countries that paid sufficient attention to scientific research, development and innovation emerged as great nations. Such nations have been able to sustain their independence, developed their economy, protect their environment and guarantee their security for the happiness of their citizens” The Minister added.

Earlier in her opening remark, the Permanent Secretary, Federal Ministry of Science and Technology, Belema wakama stated that “strategic initiatives  are necessary  and should  address  competiveness issues not only at the level of the individual product and service sector but at the national level as well”.

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The permanent Secretary, who was represented by Mr. Ekanem Udo, a Director in the Ministry added that “Competiveness advantages are the strength a nation possesses that establish its basis for differentiation from competitors, sustaining them is important to build a brand and avoid constantly having to seek out new, short-term opportunities”.

She noted that Nigeria is abundantly blessed with raw materials and products that can form the basis for a viable local content development and national brands using the value chain and cluster development approaches.

In his closing remark, the Director-General, Raw Materials Research and Development Council, Dr. Hussaini Ibrahim said that the National  Strategy on Competiveness in Raw materials  and Products Development  approved for implementation  by the Federal Executive Council  is  meant to introduce measures and implement strategies that will help stabilize  and boost the economy.

According to the Chief Executive, The strategy envisage that a nation’s competiveness depends on the capacity of its citizenry and industries to innovate and upgrade their technologies, while companies gain advantage against the world’s best competitors because of pressure and challenges. (FMST/FMIC)


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