The Minister of Science, Technology and Innovation, Dr. Ogbonnaya Onu has said that Nigeria has made tremendous breakthrough in import reduction, by cumulatively saving N5.03 Trillion from 2017 to 2020.
The Minister made the statement, at the closing ceremony of the STI EXPO 2022 in Abuja. The Minister made the quote based on the data by the United Nations Harmonised System Code and the National Bureau of Statistics (NBS).
Dr. Onu said that due to advancement in STI, the nation has become a home for start-ups, as technology has been transferred to many of the nation’s MSME’S (Micro, Small and Medium Enterprises).
He said; “Nigeria has become a home of start-ups. Using one of our agencies, the National Board for Technology Incubation (NBTI), which has branches in all the States of the Federation, technologies developed locally are transferred to many of our entrepreneurs. Micro, Small and Medium Enterprises (MSMEs) are springing up in many parts of the country.”
He added that in the past six years, the country has made significant breakthrough in providing remedy to major diseases in form of drugs and medicine derived from our indigenous natural ingredients. He further said the country has made a lot of progress in the development of new drugs and they are at different levels of certification including clinical trials.
In the areas of agriculture and food security, Dr. Onu said that the countries efforts are highly commendable. He added that through research and innovation, efforts are ongoing to provide food security as well as agro raw materials for our industries.