By, Omowumi Samuel, Abuja
The President of the Manufacturers Association of Nigeria (MAN), Mansur Ahmed, says the decision of the Tertiary Education Trust Fund (TETFund) to institutionalise Research and Development (R&D) is a major boost to the nation’s industrial sector.
Mansur stated this during a virtual meeting organised by the TETFund’s Research and Development Standing Committee (RDSC) on Institutionalisation of R&D in Industrialisation, Manufacturing, Trade, Investment and Economy thematic group.
The MAN President, who doubles as Vice Chairman of the RSDC, said the country should also aim for sustained economic growth, build the capacity of its manufacturing sector and expand its trade policies.
While appreciating the leadership and commitment of the Executive Secretary of TETFund, Prof Suleiman Bogoro, for initiating the process of institutionalising R&D in the country, Mansur said “we need a clear strategy for expanding our energy sector to support our industrialisation strategy; we need to upscale the skills of Nigerians.”
He expressed confidence that R&D has enough potentials to grow the country’s manufacturing sector, noting that the country must factor research in a way that fits the industrialisation process to grow its economy in a way that Nigeria becomes an industrialised nation.
He acknowledged that R&D has been the major driver of economies across the world and every aspect of life but it has not had that impact in Nigeria.
Bogoro added that the R&D initiative which seeks to anchor research in the country’s economy was overdue, stating that the time to institutionalise research in Nigeria is now.
According to him, the socio economic aspects of industrialisation, manufacturing, trade, investment and economy constitutes the social transition from the output of research and development into the provision of products and services for human livelihood.
Also speaking, another Vice Chairman of the TETFund RDSC, Prof Anya O. Anya, in his remarks, noted that Nigeria must aim at double digits economic growth and single digit inflation, adding that it is only when the country’s economy grows at 7.5 per cent of GDP per annum that the country can overcome some of its challenges and induce competitiveness.
Anya said the reason Nigeria must keep its inflation down is that the high unemployment and poverty rates in the country cannot be managed except its inflation is brought down.
On his part, the Chairman of the RDSC, Prof Njida Gadzama, said given the potentials Nigeria has, the country deserves to be better than what it is.
Gadzama, who lamented that the country imports virtually everything, called on all Nigerians to lay aside their differences, unite and develop the country.
