Federal Government has approved the change of name of the Federal Ministry of Science and Technology to the Federal Ministry of Science, Technology, and Innovation to drive the agenda for economic growth.
Minister of Science, Technology, and Innovation, Dr. Ogbonnaya Onu made the announcement at a world press conference in Abuja.
According to the minister, The 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 provide policy and funding environment to 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 Ministry will result in Research and Development (R&D) that is industry and services demand-driven, to enhance commercialisation.
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 Ministry he added, include;
Ø Irreversible indigenous industrialisation
Ø Platform for higher productivity
Ø Job creation and quality employment generation in the economy.
Ø Significant level of poverty alleviation