The Federal Government has approved the renaming of Federal Ministry of Science and Technology to the Federal Ministry of Science, Technology and Innovation.
The name change, according to the government, is to reposition the Ministry to drive the innovation agenda and catalyse Nigeria’s economic growth.
The name change was announced on Friday, by the Minister of Science, Technology and Innovation, Dr. Ogbonnaya Onu at a press conference in Abuja.
According to the minister, “ This change of name will help meet the needs of other sectors of the Nigerian economy and all stakeholders, by supporting the generation and application of knowledge and innovation to solve socio-economic challenges, as well as providing a policy and funding environment that will establish the National System of Innovation (NSI).”
On repositioning the Ministry, Dr. Onu stated that Science, Technology and Innovation (STI) is the engine that will drive Nigeria on the road to success, prosperity, self-reliance and greatness.
He further said that the repositioning of the Federal Ministry will result in Research and Development (R&D) that is industry and services demand driven, adding that it would lead to rapid commercialisation and ultimately improve Nigeria’s competitiveness ranking.
Dr. Onu said that to move Nigeria to its desired global competitiveness level, STI will help accelerate a demand-driven, knowledge-based economy.
On promoting commercialisation of R&D results, he said; “when we succeed, it will lead to R&D breakthroughs and inventions that could be commercialised. With the right policy and legal framework to protect intellectual property, we can effectively promote commercialization in all activity sectors in the value chain for supply of raw materials, goods and services”.
The benefits of the name change and repositioning of the Federal Ministry, he added, include; irreversible indigenous industrialization; platform for higher productivity; job creation and quality employment generation in the economy and significant level of poverty alleviation.