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Nigeria’s Economy Now Diversified — Says Dr Onu

By: Damilare Taiwo
 minute read

Science and Technology Policy: “One of the public policies that promote appropriate funding to advance scientific and technological research and education, studies the impact of science and technology upon its citizenry, and prescribes regulation, if necessary.” — Library of Congress' Science, Technology & Business Division

Mr Ogbonnaya Onu, an engineer by profession, a politician, an author and the current Minister of Science, Technology and Innovation said in a conference — the validation workshop on the Draft Revised 2022 National Science, Technology and Innovation (STI) policy, held in Abuja on Thursday 27th January 2022 that Nigeria’s economy has been diversified due to policies of the Federal Government. Additionally, he said there’re ongoing attempts to deepen the diversification.

The minister revealed at the workshop that the Federal Government has sanctioned five additional policies to help gear the nation's economy from being commodity-dependent that is, from the nation's traditional basic goods to an innovation-driven economy — developing new interpretations for products and services or understanding "why" a product is used. Taking a subjective approach rather than objective.

“I am happy that the Federal Ministry of Science, Technology and Innovation (FMSTI) now has additional five policies approved by the Federal Executive Council. These additional policies include the Science, Technology and Innovation Roadmap (2017-2030); the National Strategy for Competitiveness in Raw Materials and Products Development in Nigeria; the Presidential Executive Order No. 5; the Leather and Leather Products Policy; the Methanol Fuel Production Technology Policy.

Read also: Nigeria’s Economy Under Buhari Worse than 10 Years Ago: World Bank

"All these policies have helped the nation to move our economy from depending entirely on commodities to depend on knowledge, that is innovation-driven. Our professionals, contractors and manufacturers are given preference in procurement by the Federal Government. Gradually many Nigerians are now buying made in Nigeria products. Our economy is now diversified and we are all working hard to deepen the diversification. Nigeria is changing in a positive way. Good things are happening in Nigeria". Dr Onu stated.

Note that this is an STI policy draft review. Dr Ogbonnaya during the workshop said the validation workshop on the draft comprising of its best intellectuals would severely aid in examining the document, and also prepare a Final Revised 2022 NSTI Policy that will be forwarded to the Federal Executive Council for its thoughtfulness and favourable reception.

“The journey to revise the National Science, Technology and Innovation Policy started in 2019. A number of committees were set up, including an Inter-Ministerial Committee. We thank the United Nations Educational Scientific and Cultural Organisation (UNESCO) for their contribution. We also had a Task Team, comprising of some of our best intellectuals taken from our leading Academies to look at the document." Dr Onu stated explicitly.

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