Uche Nnaji, minister of innovation, science, and technology, says the federal government will establish a research and development fund that small and medium enterprise (SME) owners can leverage.
Nnaji spoke over the weekend during a visit to the Technology Incubation Centre (TIC) in Agege, Lagos.
The minister applauded the leadership of the National Board For Technology Incubation (NBTI) for churning out thousands of industrialists over the years and assured that the ministry will support the agency.
“Under the renewed hope agenda of our president, Senator Bola Ahmed Tinubu, we as ministers are eager to move, and this is why we are moving up. He has said more has to be done in every quarter and jobs have to be created.
“Before, we didn’t have a research and development fund but we are at the verge of creating it where people that have excelled in innovation, technology can push their hands and take funds to develop what they have researched.”
Patricia Chukwu, NBTI director-general, thanked the ministry of innovation, science and technology for its support.
Chukwu said technology is the key to unlocking solutions to some of the most pressing issues in the country and urged the ministry to fully maximise the potentials embedded in the agencies.