By Dwelleth Morountodun
The Presidential Standing Committee on Inventions and Innovations, has paid N81,500,000 to 126 inventors and Innovators.
Speaking at the award ceremony during the week, the Minister of Science and Technology, Dr. Ogbonnaya Onu, charged them to leverage on use of local technology to drive SMEs and MEMS businesses.
The minister, underscored that innovations and Inventions are key drivers of economic progress of any nation.
He said India, China and South Korea which have transformed to developed nations recognized the potential of innovation and applied it to building their respective nations.
In his words, “Innovation involves using creativity to improve the things we do in a way to promote productivity and enhance competitiveness”.
On the current economic realities facing the country, he eulogized the policies put in place by the federal government to diversify the economy and stimulate the socio economic development of Nigeria.
Onu charged the beneficiaries of the grant, to assist in achieving the Nation’s proposed sustainable diversification programme.
He said further that the nation was clearly interested in growing a new generation of businessmen and women, who will utilize locally developed technologies to improve their business ventures.
On economic diversification, Dr. Onu highlighted the need to look inward in exploring and exploiting the abundant human and material resources available in the country today.
Onu also implored the beneficiaries, to commercialize and improve their inventions so as to compete with others and help to reduce patronage of foreign goods.
He further said the full commencement of the proposed National Technology and Innovation fund, will boost Research and Development activities of Innovators and Innovators across the country.
The Permanent Secretary of the Ministry, and Chairman Presidential Standing Committee on Inventors and Innovations (PSCII), Mr. Bitrus Bako Nabasu said the successful integration of STI to national development policies will improve the socio economic fortunes of Nigeria.
He added, that the PSCII award grant, is to encourage Nigerians with Innovative and creative ideas to achieve technological breakthrough.