The Federal Executive Council last week approved a memo from the Ministry of Science and Technology to set up a National Science Research Technology and Innovation Fund for the development of science and technology in Nigeria.
Minister of Science and Technology, Prof Ita Ewa, said this will boost research and development activities in the country since there will be sufficient funds to carry out research activities.
“The policy implementation will commence soon. Funds are accessible to researchers and as soon as we have the take-off grant we will announce it to the public,” he explained.
The council had two months ago approved the National Science Technology and Innovation Policy for the country. A committee was set up to study the appropriate ways of funding Science Technology research in the country.
The Policy was reviewed in May 2011 by key stakeholders in the sector and is expected to address issues relating to the transfer of technologies to adapt, utilise, replicate and diffuse imported technologies; establish strategic organisations and institutional structures for the coordination, management, promotion and application of science and technology for the production of goods and delivery of services, and developing capabilities in Science, Technology and Innovation (STI) and Technology Need Assessment in all sectors to promote global competitiveness.
With the policy in place, Nigeria now has the tool to foster sectoral Research and Development (R&D) activities at the level of R&D institutions and firms, that are largely demand-driven and market-oriented, consistent with national developmental goals and encourage the generation, use and protection of indigenous knowledge and intellectual property that promote national development.
The policy provides for promoting youth participation and gender mainstreaming in STI as well as encouraging community investment and ownership of decentralised STI systems.