The Federal Government has been urged to develop human capital by increasing funding to the education sector, especially science and technology education.
The Managing Director/Chief Executive Officer of Nigerian Export-Import Bank (NEXIM), Abubabar Abba Bello who made the appeal while delivering the seventh convocation lecture of Achievers University, Owo, Ondo State, said the move would boost the sector and ensure less dependence on crude oil.
Bello who said government should also promote research and development to enhance innovation in tertiary institutions, added that the competitiveness of the exports sector will be boosted by so doing.
While delivering the lecture titled, “Non-oil exports: Panacea for underachievement of Nigeria’s economic potentials,”Bello said Science, Technology and Innovation (STI) Policy should be fully implemented to enhance funding of research in tertiary institutions.
He said the country stands to benefit greatly by the enhancement of its intellectual property rights and patent registration.
“The review of our education curricular should be undertaken to promote entrepreneurship development,” he said.
He attributed the low level of growth of non-oil exports sector to issues relating to funding, production, logistics and quality standards.
In his remarks, the university’s Pro Chancellor, Dr. Ayorinde Olabode, appealed to ivory towers to create centre of excellence that would stop the outflow of education funds from the country.
“With the creation of centres of excellence, parents will no longer spend precious foreign exchange sending their children to colleges outside the country rather we will find nationals of other countries sending their children to attend these centres, bringing foreign currency into the country,” he said.
The convocation lecture was part of events to celebrate the tenth anniversary of Achievers University Owo, Ondo State Nigeria.