Nigeria to engage venture capitalists to boost scientific innovations

The Minister of Science, Technology, and Innovation, Dr. Ogbonnaya Onu, said on Saturday the Federal Government has concluded plans to engage venture capitalists and entrepreneurs to boost scientific innovations in the country.

The minister, according to a statement issued on Sunday by the Head of Press, and Public Relations in the ministry, Josephine Ademu, stated this at an event marking the 2021 World Science Day for Peace and Development in Lagos.

He said: “As a nation, we must change our orientation and pay more attention to science for rapid development of our country.

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“By doing this, Nigeria will become self-reliant and be respected by other nations all over the world.”

Onu highlighted policies being developed at different stages of implementation to include the National Science, Technology and Innovation Plan 2017-2030, National Strategy for Competitiveness in Raw Materials and Products Development, Presidential Executive Order 5, Leather and Leather Products Policy, and Methanol Fuel Production Technology Policy, among others.

He noted that policies on nanotechnology, artificial intelligence, bioethics, and biotechnology would be presented to the Federal Executive Council (FEC) for approval soon.

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