Studies have shown that Science, Technology and Innovation (STI) rules the world and has led both developed and developing economies to standout. Similarly, the Ministry of Science, Technology and Innovation (FMIST) has been working vigorously to enhance Nigeria’s economy via Executive Order No.5. BINTA SHAMA reports.
Importance of EO5 to national economic development & growth
The Executive Order (ExO5), came to limelight by the previous administration in 2018.
The objective of the order, is expected to promote the application of science, technology and innovation towards achieving the nation’s development goals across all sectors of the economy.
The then President Mohammadu Buhari, ordered that, ‘all procuring authorities shall give preference to Nigerian companies and firms in the award of contracts, in line with the Public Procurement Act 2007.’
The Executive Order is said to also prohibit the Ministry of Interior from giving visas to foreign workers whose skills are readily available in Nigeria. But where expertise is lacking, procuring entities will give preference to foreign companies and firms with a demonstrable and verifiable plan for indigenous development, prior to the award of such contracts.
It is in same vein that, the Federal Ministry of Science, Technology and Innovation instantly went to work spearheading the promotion of indigenous technology and innovation for national growth.
Similarly, at the just concluded Technology and Innovation Expo 2024 with the theme; ‘STI: SOLUTION TO NATIONAL ECONOMIC CHALLENGES ‘, where innovators and inventors showcased their indigenous Research and Development (R&D) products, goods and services, and also giving opportunities for a discussion with investors, as well as interfacing with each other on chatting the way forward on the socio-economic development of the nation hinged on STI. It is essential to state that all developed and developing economies utilise innovation in every area of human endeavors, as it rules the world.
Speaking, the President Mr. Bola Ahmed Tinubu, represented by the Secretary to the Government of the Federation, Senator George Akume, reiterated his commitment to dedicating 0.5% of the country Gross Domestic Product (GDP) to funding Research and Development (R/D) across different sectors of the economy.
“I am aware that the Federal Government, at the 5th edition of the Science, Technology and Innovation Expo 2021, declared that “in tandem with the decision made by the African Union Executive Council in 2006 to establish a target for all members states of 1% of GDP investment in Research and Development (R&D) to improve innovation, productivity and economic growth, therefore, we want to reiterate that having come to terms with the challenges of this critical sector of the economy, we will henceforth dedicate 0.5% of our GDP to R&D to fast track meaningful development.
“It is also on record that the previous Government of my predecessor, Muhammadu Buhari, GCFR made a significant effort in actualizing this by communicating the decision of dedicating 0.5% of our GDP to Research and Development to the National Economic Council to come up with modalities in achieving this noble intention of Government. As a government, we would intensify our efforts in drawing the National Economic Council’s attention to hasten this dream’s actualization to strengthen the Innovation, Science and Technology (IST) Sector.
Job creation & opportunity for Nigerians via EO5
“This year’s theme for the event, “STI: Solution to National Economic Challenges”, is apt given our challenging economic circumstances and the technological status of our country compared to our contemporaries. Innovation, flowing from science and technology, is indisputably the fulcrum of economic growth and national development. Hence, my administration prioritizes it as a driving force for actualizing our target socio-economic progression. And because of its job-creating potential, we have improved the budgetary allocation to this sector as leverage for quickly taking our teeming populace out of poverty, thereby taming the tides of restiveness across the country.
“I would like to reiterate that with our Renewed Hope Agenda, Innovation, Science and Technology as crucial apparatus for modern- day socio-economic advancement will continue to receive our support in the promotion and utilization of innovations and inventions carried out through local Research & Development to enhance indigenous capacity and capability in tandem with the provisions of the Presidential Executive Order No. 5 (2018). The Order unarguably places Nigerian professionals and manufacturers at the centre of the Nigerian economy. Hence, it serves as an instrument to midwife a new renaissance for transforming our economy from consumption to production driven by innovation.
“Distinguished Ladies and Gentlemen, to match words with actions, on the assumption of duty as the President, we signed a Memorandum of Understanding (MOU) with the Republic of Cuba to enhance collaboration between the two countries on science and technology. The areas of cooperation covered by the bilateral agreement include biotechnology, scientific investigation and innovation, technological development, human resources development, specialist exchange in science and technology, and technology transfer for development areas,” the President added.
Welding policy to promote innovation centers & certification of skilled artisans
The President assured Nigerians that the present administration would promote the application of the National Policy on Welding and Welding Related Fields approved by the Government in 2022 to improve the contribution of the manufacturing sector to the Gross Domestic Product (GDP) of Nigeria, hasten innovation, lessen unemployment and reduce capital flight.
While giving his keynote address at the Expo, the Minister of Innovation, Science and Technology Chief Uche Geoffrey Nnaji said FMIST has always identified and encouraged innovative minds especially amongst the younger generation.
“My Ministry recognizes outstanding young Nigerians in the field of science every year through a program called the Young Nigerian Scientists Presidential Award (774 YONSPA). The students participate in competitions at the local government level, where state champions emerge. The most exciting part of this competition is that the winners get a Presidential handshake and receive a Federal Government Scholarship up to the Ph.D. level.
The winners of the 1st, 2nd, and 3rd place, received cash awards of N1 million, N750,000, and N500,000, respectively.
“Permit me to briefly inform you of some of the giant strides my Ministry has made recently to fulfil its mandate, such as charting the course of technological development, improved Research and Development, Policy Formulation, Supervision, and Promotion of all matters of STI ecosystem in the country. The ministry recently launched the approved National Policy on Welding and Welding Related Fields, which is in line with the objectives of Presidential Executive Order No. 5, which is to promote local content in the country.
“It is the bedrock of engineering and the heartbeat of industrialization, and it remains one of the highest employers of labour and the critical cornerstone for the construction industry. The initiative undertaken by the Ministry reflects its commitment to harnessing the transformative power of STI for national economic growth and development. It is pertinent to state that welding plays a critical role in strengthening Nigeria’s economy through its deployment and utilization in manufacturing, science and technology, oil and gas.
“Our nation finds itself at a juncture where the integration of Science, Technology, and Innovation is not just a choice but a necessity. The current economic landscape demands a paradigm shift, and the Ministry’s role becomes crucial in steering this transformative journey. As a result, the Nigerian Government approved the Revised Science, Technology and Innovation Policy. This Policy, when properly implemented, has the power to completely transform the Nigerian STI ecosystem as it provides the appropriate channel for the fundamental re-orientation of Nigerians as well as a pathway for the socio-economic development that will usher Nigeria to its rightful place among the comity of nations. I must say this: under the Renewed Hope Agenda and visionary leadership of our esteemed Excellency. President Bola Ahmed Tinubu, GCFR, we have witnessed commendable strides in promoting STI ecosystems, fostering Research and development (R&D), and leveraging technology for economic growth.
FMIST achievements
Speaking of the ministry’s achievements, he said FMIST came up with an initiative tagged ‘SHOWCASE YOUR INNOVATION in 12 DAYS, 12 INNOVATIONS’. “The Ministry called for submissions from Nigerian Researchers and Inventors. You all will be amazed by the abundance of innovations/inventions submitted at the event. These projects have demonstrated our capacity to innovate and have set the stage for a more resilient economic future. These accomplishments showcase our potential and the tangible impact that STI can have on our economic setting.
“However, for this potential to fully blossom, we need a supportive work environment that encourages applying the skills gained through STI. Looking at the experiences of Japan and some other Asian countries is helpful, as these countries have invested significantly in their economies’ Research and Development (R&D) sector, and we can see the positive impact it has on their solid economic positions globally. The theme of this year’s Expo emphasizes the importance of learning from such examples and implementing strategic measures to harness the potential of STI for overcoming our economic challenges.