The Federal Ministry of Science and Technology (FMST) said it would invest more in research and innovation to fast track the nation’s industrial and economic development.
The Director of Bio Resource Technology Department in the Ministry, Abayomi Oguntade, made this known in Abuja. He said that in an increasingly globalised world, high-level investment in research and innovation were essential for economic competitiveness and improved living conditions.
He added that the ministry was investing as well motivating local and international stakeholders to invest more in scientific research in the country.
According to him, such effort is to advance Science, Technology and Innovation (STI) as tools to the nation’s economic and social progress.
He said that the Minister of Science and Technology, Ogbonnaya Onu intention was planning to see how the National Research and Innovation Council (NRIC) could raise fund for Research and Development in the nation.