IDB Commences Commercilization of Nigeria Research

Islamic Development Bank IDB has commenced the process of facilitating the Nigerian private sectors on the commercialization of Nigerian research findings.

The Minister of Science and Technology, Dr Ogbonnaya Onu disclosed this today while addressing a World Press Conference on his recent trip to Saudi Arabia, Portugal and United State of America.

According to the Minister, the Bank will help in the commercialization of research findings produced by Research Institutes in Nigeria and also create jobs opportunity in the country.

He noted that commercialization will lead to the local production of all the nations needs. “We believe that the lack of promoting Nigeria products can be achieved by producing all our goods locally.

Dr. Onu stated that Islamic Development Bank will  use their resources to assist Nigeria to tackle food insecurity in the country, They want us as they in the position to help other countries “, The Minister stressed.

While in Portugal, the importance of the Ocean in determining the climate of the world   was brought to the fore at a meeting where countries close to the Atlantic Ocean come together to develop a  mechanism to manage the Coastal areas .

At the meeting it was agreed that international research headquarter be established at Zurich while one of the other centers on international research will be established in Nigeria.

While in US, the minister challenged Nigerian Researchers and Innovators in the diaspora to come home and invest especially in the area of space technology   .”We cannot  afford to allow other countries explore space, we are going to work with the Federal Ministry of Finance and Trade and Investment to facilitate their coming home and also develop venture capital” he emphasized.

The Minister disclosed that a draft copy of Science and technology road map 2030 has been distributed to all  stakeholders for comments and inputs before it is forwarded to Federal executive council for approval .

The Federal Ministry of Science and Technology is working hard to close technology gaps in the best interest of the nation through   Technology Acquisition initiatives.

Taye Akinyemi

DD (Press)