Business Creation: Onu woos private sector to explore research findings

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The Minister of Science and Technology, Dr Ogbonnaya Onu, called on organised private sector to invest
in projects and build new businesses from research efforts of agencies under the ministry.

The minister made the call when a delegation of Lagos Chamber of Commerce and Industry (LCCI), led by Mr Leye Kupoluyi, its Chairman,
Committee on Information Communication Technology (ICT),  paid him a visit in Abuja.

Onu said that the call became necessary in view of the need for the private sector to be part of the ongoing science revolution in the country.

He stressed that many agencies of the ministry were embarking on research in many areas of human endeavour,
which could contribute in improving the nation’s economy, enhance job creation, as well as strengthening the currency.

He, therefore, urged LCCI as well as the organised private sector to take advantage of the research findings of the ministry.

He added that “the movement from commodity-based economy to knowledge-based one that is innovation driven is already
yielding results and we believe in the years ahead, the impact will be more visible for more people to see and appreciate.

“I want to use this opportunity to call on the organised private sector to invest in projects that will help in building new
businesses arising from the recent efforts by many Nigerians, particularly in research institutes.

“We have researches going on in so many areas, including ICT which we believe that the organised private sector
can come in because the bulk of the risk has already been taken care of.

“They can come in, invest and start making money because we believe that it is better for Nigerian entrepreneurs to use
products of our research efforts as against outsiders.

“If it is fellow Nigerians who do so, it will help us particularly in job creation and it will also go a long way in ensuring
that the value of our naira is strengthened.

“We want a situation where the value of the naira will be restored. We can no longer accept a situation where there is
pressure on the naira arising from importation of virtually everything we use.

“If we reduce importation, we will definitely reduce the pressure on the naira and then the naira will stabilise.”

Kupoluyi said that the visit was to commend the ministry “for doing well for the business community, especially in area of ICT.”

He pointed out that ICT had so far changed the face of doing so many things across the world.

According to him, there are successful stories to tell about Nigerians in the world of ICT in every aspect of life,
including agriculture, education, health, science and technology. (NAN)

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