By Stanley Iwuoha
Governments of African nations have been called upon to provide meaningful financial assistance to reduce the high cost of innovation activities to energise rapid economic growth in the continent.
The former Governor of Cross River State and former chairman of National Biotechnology and Research Development Agency, NABRDA Governing Council Board, Chief Clement Ebiri made the call at the ongoing five day maiden International Conference on Biotechnology, ICoB24, organised by the NABRDA in Abuja.
Chief Ebiri, while delivering his keynote address on the theme: Biotechnology as an Engine for Economic Growth, said African nations were not doing enough in terms of funding of scientific research compared to their counterparts in the developed regions of the world and charges them to provide subsidies that would make new technologies more competitive in the market.
According to him, for Africa to advance economically, it needs to recalibrate the politics of finding science, technology and innovation.
Ebiri, who visibly criticised the poor budgetary provisions for STI in Africa, insisted that such fundings do not sufficiently support transforming scientific advances into societal benefits compared to what obtains in the industrialised countries.
For him, subsidising consumption is a growth retardant that must not be encouraged in place of innovation subsidy.
He said: “No nation has developed without incorporating scientific knowledge with market logic. Innovation without commercialisation is a recipe for economic stagnation, it frustrates the spirit of scientific enquiry. If we keek failing at the commercialisation of novel scientific discoveries, we will remain a mere theoretical fact without any existential.relwvance to Africans.
“African scientists must prioritise licensing technologies from research institutions to businesses and creating spin-off companies based on scientific research. It is anti-development for us to keep using our intellectual capital to conduct groundbreaking research activities without optimising the market value of their outcomes.”
In the face of these challenges, he proposed that in the short-term, commercial viability of immediate societal benefits should be a criterion for funding science-based projects.
while declaring the conference open, the Vice President, Kashirm Shettima who was represented at the conference pledged government’s readiness to leverage Biotechnology to diversify and catalyse Nigerian economy.
In his speech, the Minister of Innovation, Science and Technology, Chief Uche Nnaji said the conference is significant because biotechnology, if we’ll harnessed has the potential to boost Nigeria’s Gross Domestic Product, GDP. And with proper application of the technology, he said food insecurity will be a thing of the past.
Earlier in his welcome address, the Director General of NABRDA, Prof. A Abdullahi Mustapha, said the gathering of stakeholders at the conference was a testament to their collective commitment to exploring and harnessing the immense potential of biotechnology as a driving force for economic growth in Nigeria.
He noted that biotechnology in its various forms, has recolutionalises industries across the globe, offering innovative solutions to some of the most pressing challe he’s facing humanity today.
“Nigeria with its rich biodiversity, dynamics population and growing technological capabilities, is uniquely positioned to leverage biotechnology for transformative economic growth.
However, to realise the full.potential of biotechnology, Prof. Mustapha said it requires a concerted effort from.all stakeholders and deliberate investment in research and development, as well as strengthening the educational institutional and create an enabling environment for innovation and entrepreneurship, public-private partnership, international collaboration and supportive policies.
In her introductory remarks, the chairman, Local Organising Committee, Dr. Rose Gigado said the conference was designed on purpose and for to advance knowledge and foster collaboration in biotechnology for the betterment of humanity.
According to her, the conference seeks to become Africa’s leading innovators’ forum that inspires the next generation and a a hub for policy dialogue, poised at the intersection of scientific enquiry and societal advancement.
The conference attracted over 64 experts, scientists, researchers, captains of industry, heads of MDAs, and policy makers as well as farmers.
High point of the occasion was presentation of awards of recognition to some distinguished guests.
End.
