By Oluwafunke Ishola
Lagos – The Minister of Science and Technology, Dr Ogbonaya Onu, on Tuesday said under-utilisation of research results had hindered the nation’s economic growth.
Ogbonaya, represented by Prof. Gloria Elemoh, the Director-General, Federal Institute of Industrial Research (FIIRO), Oshodi, spoke at the ongoing Information Communication Technology and Telecommunications EXPO (ICTEL EXPO) in Lagos.
The EXPO was organised by the Lagos Chamber of Commerce and Industry (LCCI) with the theme: “The Digital Economy-Strategies for Growth in a Connected World”.
The News Agency of Nigeria (NAN) reports that the ICTEL EXPO will end on July 27.
Onu also said that under-utilisation of research results was responsible for the classification of Nigeria as a third world country.
“It is amazing that with all our resources, Nigeria is still a third world country, because we have not used results of research and development to improve our global ranking,” he said.
The minister said that the emerging digital economy had the potential to generate new scientific research and breakthroughs, create job opportunities, improve economic growth and standard of living of the citizens.
According to him, ICT plays a vital role in improving and ensuring that Nigeria’s economy grows to be among the world’s fastest growing economy.
He said that the EXPO came at a time when the Federal Government was vigorously pursuing a knowledge-based economy as one of the key areas to diversify the economy.
Onu said: “The digital economy is vital as it drives growth in all sectors of the economy.
“Its impact permeates all aspects including the way people interact, the economic landscape, skills needed to get a good job and even political decision making.
“We have to ensure that every Nigerian has the chance to benefit from the digital revolution through competitive internet connection that is available, regardless of where the person may be and access to digital skill.”
He said that government would promote growth of ICT through the creation of technology infrastructure and knowledge-based ideas to facilitate the development of the sector.
In her remarks, Mrs Nike Akande, the LCCI President, said that enormous untapped potential still exist in ICT in spite of over two decades of growth witnessed in the sector.
“There is no better time to harness the benefits of ICT than now when the Nigerian economy is in dire need of diversification.
“ICT is strategic in driving productivity and efficiency in all sectors of the economy.
“Today, virtually all sectors leverage ICT for optimal performance,” Akande said.
She said that LCCI, through the EXPO, would advance opportunities and linkages in ICT world.
She said that great investment opportunities would emerge from closer interactions and integration among ICT players. (NAN)