Chief Henry Ikoh, Minister of State for Science, Technology and Innovation (STI), said the Ministry would support inventions and innovations that tackle emerging problems in the country.
Ikoh said this at a press briefing on the 2023 STI EXPO in Abuja on Friday.
The minister stated that the support for problem-solving inventions and innovations would come through the Presidential Standing Committee on Inventions and Innovations (PSCII) grant.
Ikoh argued that the volatility of oil prices and the need to diversify the economy clarified that it was time to explore new opportunities and sectors in order to drive economic growth.
” Science, technology and Innovation is one sector that holds great potential for Nigeria,” he said
The Expo is scheduled to take place in Abuja from Jan. 16 till 20 and according to the minister, the STI sector has the power to transform Nigeria in several ways.
“It can lead to the creation of new industries and businesses, thereby increasing employment opportunities and boosting economic growth.
“It can lead to development of new products and services which can be exported to other countries, thereby increasing foreign exchange earnings.
“It can lead to the development of new technologies that can be used to improve the efficiency and productivity of existing industries, thereby increasing competitiveness,” Ikoh said.
The 2023 Expo which has the theme: ‘Actualizing Effective Diversification of the Nigerian Economy through STI’, gives substance to the minister’s quest for an enabling environment to be created.
He urged that creating an enabling environment for innovations and inventions to thrive involved access to funding,creating a culture of innovation within government and private sector organisations.
Ikoh also said collaboration between private and public sectors needed to be encouraged.
The minister highlighted what was to be expected at the 2023 Expo to include innovation exhibitions featuring cutting-edge technologies and products developed by Nigerian inventors, innovators, researchers and start-ups.
Accordingly, he said that the exhibitions would provide an opportunity for participants to learn about latest innovations and to network with Inventors, Innovators, Researchers, Start-ups and Investors.
Highlighting further, he said the Expo would feature an Investors and Researchers Forum, bringing together investors, researchers and government representatives to discuss opportunities for collaborations and funding in STI.
“The Expo will also include special focus on R&D commercialisation, with a number of sessions and workshops dedicated to the topic.
“These sessions will cover topics such as technology transfer, patent protection and business development,” Ikoh said.
He further said the opening ceremony would witness presentation of the three best Young Scientists of Nigeria, 2023 to president Buhari who annually grants scholarships to these students.
