President Muhammadu Buhari, said that the Federal Government has allocated 0.5% of the country’s annual GDP (Gross Domestic Product), to improve investment and aid the development of Science, Technology and Innovation in the country.
The president disclosed that the investment in STI is in line with the African Union resolution that member nations should invest at least 1% of their respective nations GDP to the development of Science, Technology and Innovation.
President Buhari, who was represented by the Vice President, Prof. Yemi Osinbajo, made this known at the opening ceremony of the 2021 Science and Technology EXPO in Abuja on Monday.
In his speech, Prof. Osinbajo said that the Science and Technology EXPO should serve as the VANGUARD to establish Nigeria’s economy as an innovation driven one. He further added that the EXPO is important in helping Nigeria achieve economic sustainability and recovery.
He said that the Federal Government is fully committed to create an enabling environment for the growth of Science, Technology and Innovation in the country, through government policies such as Executive Order 05, The Economic Recovery and Growth Plan (ERGP) and other policies approved by the Federal Government.
The Federal Government granted full scholarship up to the Doctor of Philosophy (PhD) degree level, to three secondary school students who emerged winners at this year’s Young Nigerian Scientists Presidential Award Competition (774 YONSPA). The scholarship is in any science-related discipline of their choice at any university in the country.
The three students are Edanya Ugochukwu Godswill (Enugu state), Akinwande Oluwatomisin (Ondo state) and Emmanuel Imeh (FCT), who came 1st, 2nd and 3rd respectively, a statement from the Ministry of Science and Technology said.