The Federal Government has approved the change of name of the Federal Ministry of Science and Technology to the Federal Ministry of Science, Technology and Innovation.
Minister of Science, Technology and Innovation, Dr Ogbonnaya Onu who announced the change of name on Friday at a world press conference in Abuja.
Onu said the change is to reposition the ministry to drive the innovation agenda and catapult Nigeria’s economic growth.
“This change of name will help meet the needs of other sectors of the Nigerian economy and all stakeholders, by supporting the generation and application of knowledge and innovation to solve socio-economic challenges, as well as providing a policy and funding environment that will establish the National System of Innovation (NSI).”
On repositioning the ministry, Onu stated that Science, Technology and Innovation (STI) is the engine that will drive Nigeria on the road to success, prosperity, self-reliance and greatness.
He further added that the repositioning of the Ministry will result in Research and Development (R&D) that is industry and services demand-driven, adding that it would lead to rapid commercialisation and ultimately improve Nigeria’s competitiveness ranking.
Dr Onu said that to move Nigeria to its desired global competitiveness level, STI will help accelerate a demand-driven, knowledge-based economy.
On promoting commercialisation of R&D results, he said; “when we succeed, it will lead to R&D breakthroughs and inventions that could be commercialised.
“With the right policy and legal framework to protect intellectual property, we can effectively promote commercialisation in all activity sectors in the value chain for supply of raw materials, goods and services”.
The benefits of the name change and repositioning of the Ministry he added, include; Irreversible indigenous industrialisation; Platform for higher productivity; Job creation and quality employment generation in the economy and Significant level of poverty alleviation