The Minister of State for Science and Technology, Mr Abdullahi Mohammed, has advocated for the establishment of a research and development Bank to fund research activities in the country.
Mr Mohammed who stated this, at the opening ceremony of a 3-day Capacity Building Workshop organized by Federal Ministry of Science and Technology and the United Nations Educational, Scientific and Cultural Organization (UNESCO), in Abuja said proper implementation of Science, Technology and Innovation, STI policies will accelerate Nigeria to be one of the most industrialised nations of the world.
The Minister who said research was capital intensive explained that the sector had enjoyed steady progress in the last eight years, due to policy implementation in areas such as solar technology, road research, biotechnology capacity development and many other crucial areas.
He reiterated the need for the country to develop a bank primarily for the purpose of funding Research and Development.
In his words, “To mitigate against the challenge of funding, FMST is strongly advocating the establishment of R&D bank to close the gap in the absence of venture capitalist to support the commercialisation of R& D findings.
He further advocated for certain strategic actions for effective policy implementation, these include; awareness creation, developing monitoring indicators, garnering state level cooperation and ensuring stakeholder participation.
The conference is centred on STI policy making, Mapping and Review Methodologies to foster necessary interactions and exchange of knowledge.
Earlier, the Director Dakar Regional office and Organisation of Islamic Corporation (OIC) Abuja Regional Office, Dr. Dimitri Sanga, said that the recent Covid-19 pandemic is a wake-up call for member nations to invest in and build robust STI eco-systems.
The Secretary General, Nigerian National Commission for UNESCO, Mr. Olagunji Idowu, said the capacity workshop will go a long way to properly reposition STI policies in the country .