3 April 2017

Nigeria: Technology Expo and Diversifying the Economy

Abuja. — Until recently, developments of technology and innovation have been restricted to western countries, but with the rising innovations in third world economies, the trend has gradually transcended to the African continent. Nigeria is taking the lead in advancing this developmental drive especially with the sharp drop in prices of crude oil which has plunged the economy into recession.

Following the ever-increasing quest for diversification of the economy, the Buhari led administration, through the Federal Ministry of Science and Technology is encouraging technology and innovations in the areas of Science and Technology in the formal and informal sectors of the economy.

Expectations are high that Nigeria with its current drive in development is gearing towards becoming a technology hub for Africa. Following the ever-increasing quest for development drive the world over, key stakeholders in the industry have evolved technology and innovation, to meet with the current demand for ideas as ideas rule the world.

Technology and innovation is seen as the key if a nation is to successfully drive its economy. It has become a major source of development as leading economies have keyed into it in order to meet with competitiveness in global markets.

It also has become an approach with focus on systems dynamics, whereby entrepreneurial skills and developments are encouraged. This connotes that knowledge and competence flows into ordinary goods and services thereby increasing value chain across the globe.

In order to keep up with trends of technology and display research findings and innovations available in Nigeria, the Honourable Minister of Science and Technology Dr. Ogbonnaya Onu conceptualized the idea of putting up a technology and innovation Expo.

The Expo is with the view of popularizing and commercializing research developments, products, and services from various research institutions, tertiary institutions, inventors and innovators in the manufacturing sector to display their achievements and breakthroughs in the science and technology sectors in Nigeria.

So far, preparations are in top gear, as the Expo will galvanize the innovation sector into a network of developmental blocks in the industry.

The Expo is geared towards promoting research and developmental activities, commercialization of R& D results and inventors and innovations, encouraging Nigerians to take up science and technology as a profession.

It will also close technology gaps by building partnerships between researchers and investors as well as encourage industry linkages and promoting creation of innovative enterprises utilizing Nigeria's indigenous knowledge and technology to produce marketable goods and services.

In a bid to ensure that the Expo becomes a landmark event, the Federal Ministry of Science and Technology, set up an Inter- Ministerial l Working Committee to coordinate the various activities and programmes lined up for the events.

The Expo intends to have technical sessions during the events where stakeholders will be on ground to interact with other inventors and innovators with a view to linking them for partnerships with entrepreneurs in the field.

The Expo is billed to commence on from the Monday, April 3 to Friday, April 7, 2017 with an opening ceremony to be flagged- off by the Commander-in-Chief of the Armed Forces, President Muhammadu Buhari.

Henrietta Okokon, Abuja.

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