The Federal Government says the sum of N2.6 trillion would be saved for the country in the next five years.
Minister of Science and Technology, Dr. Ogbonnaya Onu, disclosed this when the President of Manufacturers Association of Nigeria, MAN, Engr. Mansur Ahmed paid him a courtesy visit in his office on Monday in Abuja. He said the feat would be achieved through the Natural Strategy for Competitiveness in Raw Materials being championed by the ministry.
He said the government will develop necessary technology to promote innovation and make research by its agencies to be industry-driven.
Dr. Onu said henceforth research efforts by Ministry will be industry driven and targeted at national needs, adding that this was to enable Nigeria stop the importation of what it could produce internally. The Minister said his Ministry has produced a leather policy that is expected to boost the leather industry and spearhead industrialization in the country.
Dr. Onu also said that the BT cotton variety recently developed by the Ministry’s Agency-National Biotechnology Development Agency will go a long way in resuscitating our moribund textile industry and rejuvenate our cotton Sector. In his remarks, the President of MAN said the association wants a Public Private Partnership, PPP, with the Ministry for the purpose of improving and adding value to raw materials so as to boost industrialization.