FG Seeks More Private Sector Investment On STI

The Federal Government has called on entrepreneurs, venture capitalists and the business community to invest more capital, innovation and ideas into the development of Science, Technology and Innovation (STI) in Nigeria.

The Minister of Science, Technology and Innovation, Dr Ogbonnaya Onu, made the call on Friday in an interview with news men in Abuja.

Onu decried that there was limited funds and resources with which agencies of government were expected to achieve their mandates.

According to him, with the help of venture capitalists, some of the research findings of our agencies can be commercialised and they will yield dividends for the country.

“Within what is available, our agencies are working very hard, we have many of our products in the market.

“We continue to call on the private sector, Nigeria does not have enough venture capitalists because they are the people that come, take research findings convert them to products and services.

“We are calling on the private sector to take the research that we have done which we have protected the intellectual properties using patents.

“We want Nigerian investors to be the people that will commercialise our research findings because when they do, the jobs created will come to Nigeria, the wealth created will be in Nigeria,’’ he said.


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