Agbaje Wants FG, Stakeholders To Tap From $ 714b Biotechnology Contribution

APROFESSOR of microbiology at the Ladoke Akintola University of Technology, Ogbomosho, Lateef Agbaje PHD, has called for concerted efforts by government and stakeholders towards helping Nigeria tap from the economic contribution of biotechnology to the world’s economy, estimated to hit $ 714.6b in 2021.

Agbaje said this, while delivering the 38th inaugural lecture of LAUTECH, titled ‘ The next big thing is very small:

The paradox of diminutive microbes and nanoparticles’. He said the sets of awesome properties exhibited by different nanomaterials are responsible for their wide applications in agriculture, medicine, engineering, environment, security and defence, renewable energy and consumer products.

“In US, at least two million workers have jobs related to nanotechnology, while the estimated cost of nano- based products was put at $ 2.6 trn in 2015.”

Explaining the relevance of biotechnology to national development, Agbaje underscored the importance of exploitation of biological resources to render goods and services for mankind. “The technology, which can be categorised into old and modern biotechnologies, can be aptly explored for the overall development of the nation, as they have applications in different sectors; ranging from agriculture, medicine, industry, environment, aquatic resources, food and product development,” he said.