By Gideon Arinze, Enugu
The Minister of Science and Technology, Dr. Ogbonnaya Onu has
identified failure to invest huge resources in science and technological
innovation as The bane of Nigeria's economic woes.
He made this known on Thursday while delivering the keynote
address at the 56th Founders day celebration of the University of Nigeria,
Nsukka.
The minister who spoke on the topic Science, Technology and
Innovation: The Way Forward, said that Nigeria in her post- independence
history did not pay sufficient attention to the crucial role which science and
technology plays to nation building.
"The impact of this trend in development on our economy can
be better appreciated if we can examine the nature of our exports within the
past fifty years for both Nigeria and South Korea"
According to him, both countries in 1962 exported essentially unprocessed commodities
with little inputs from science and technology. But fifty years later, the
situation changed in South Korea as its exports transform to Industrial
products and already processed commodities.
He however regretted that in 2011, Nigeria exports still remained
unprocessed and became even worse as it operated a mono-economy.
"We have not considered science, technology and innovation as
a critical component of our economic growth strategy. It is important that we
appreciate that we risk being left further behind" he said.
He stated that the United States of America for instance remains
the largest economy in the world and also dominates the globe militarily
because it attaches a lot of importance to scientific and technological
knowledge.
He equally maintained that technological knowledge was also
employed to start and fast track the pace of economic growth in countries such
as China, India and Brazil.
"China was once a poor country, but recorded an unprecedented
high rate of economic growth averaging more than a per capita GDP growth rate
of 8 percent over a period of more than three decades" he said adding
that China now feeds 1.4 billion of her
citizens
He stressed the need to transform the nations economy from being
resource based to a knowledge based and innovation driven economy.
"Nigeria cannot continue to be a mono product economy where
our export consists of essentially unprocessed commodities. This makes our
economy very vulnerable and hence unable to withstand shocks that arise
wherever there is a sharp decline in the prises of commodities in the
international market" he stated.
In his remark, the Vice Chancellor of the University, Prof
Benjamin Ozumba described the founders day celebration as a very pleasurable
activity.
"It is an event that gives us the opportunity to chronicle
the laudable achievement of the founding of the first indigenous University in
Nigeria, weigh the expectations of the founding fathers alongside our
achievement and chart the path for our future activities in our March to the
momentous task of making the University of Nigeria" he said.
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