Science and tech pivotal to economic development
By Jeph Ajobaju, Chief Copy Editor
A total N924 billion will be invested in science and technology in five years by the federal government with allocations to priority projects and to elements crucial to the operations of the sector.
“To achieve the goals outlined in Science and Technology during the plan period, the total public investment is estimated at N924 billion,” the government says in its
National Development Plan 2021-2022, Volume I.
“Allocations have been made to priority projects in the sector as well as projects essential to the operations of the relevant government MDAs [ministries, departments, and agencies] both at the federal and state levels ….
“MDAs shall explore funding options, which include
- “pooled blended (public-private-development sector) innovation trust fund,
- “strategic options for pre-tax levies on medium and big technology-related/ manufacturing companies,
- “subventions from existing funds (TETFund, Petroleum Trust Fund and Ecological Fund, etc.) and
- “Disbursement of TETFund’s existing $3.9m research fund to universities.”
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Tech incubation centres
The document said Abuja will partner with states to create pilot technology incubation centres to strengthen technological development, per reporting by The Nation.
Science, technology, and innovation suffer from weak policy implementation and limited funding for research and development, it noted, stressing that research and development is the major pillar of science, tech, and innovation.
It added that the global average expenditure on research and development as a percentage of Gross Domestic Product (GDP) is 1.68 per cent but in Nigeria, it was 0.13 per cent in 2007.
“The funding challenge also extends to lack of long-term capital and high cost of borrowing to fund commercialisation of scientific inventions that emerge from research in public research institutions, and ineffective partnership among stakeholders such as government, industry and academic institutions.
“The limited adoption of locally developed technologies is also discouraging to the modest local STI [Science, Technology and Innovation] efforts.
“The Science, Technology, Engineering and Mathematics [STEM] curriculum from the primary to the tertiary levels requires significant fine-tuning, and most researchers need further exposure to modern teaching and scientific techniques.”
Application of scientific thought and concepts
The government said Nigeria will accelerate science, technology and innovation, laying the foundation for a science-based and ready workforce that could apply scientific thought and concepts to solve national problems.
“The country will support the evolution of the national system of innovation by creating the factors and conditions essential for innovators, creators, scientists and technologists to translate ideas into products and services that scale into national and global markets.”
Abuja described its collaboration with states as crucial to achieving national policies on science, technology, and innovation.
It said states have to provide an enabling environment for a mature funding ecosystem to evolve and support the conditions for at least five new incubators and innovation hubs that create support ecosystem (research, universities, government, funders) for entrepreneurs to thrive.
“Collaboration between state, local and federal government on curriculum development for primary, secondary, tertiary (vocational and technical education) and higher education that will improve Nigeria’s scientific, technological and innovation base remains important.”
