Experts canvass need to equip research institutions for innovation

have stressed the need to equip research institutions to help resolve market and system failures that have been a hindrance to innovation in Nigeria.

They said this is pertinent, as innovation is very critical for a nation’s economic development.

Chairman, Technical Committee, Nigeria Triple Helix Roundtable, Tope Toogun, at a webinar- based programme, themed: “How Innovation Drives Economic Development,” held recently, said it was important that Nigeria focused on strategy, structure, and standard to improve and develop its innovation space.

The Roundtable is a collaboration of the Nigerian Economic Summit group ( NESG), the National Universities Commission ( NUC), and the tertiary education trust fund ( TETFUND). Given the COVID- 19 pandemic, the group said it is imperative that Nigeria looked for homegrown solutions and innovations to boost economic development.

Minister of State, Federal Ministry of Science and Technology, Mohammed Abdullahi, while delivering the keynote address said the lessons from the COVID- 19 pandemic have brought to the fore the need for Nigeria to look at homegrown innovations growth.

He spoke on the need for institutions to become more innovative, and how research and development needed to be commerciallydriven for industrial and economic growth. for economic

He revealed that the Ministry has developed a science and technology park that would serve as a platform for efficient transfer of scientific and technological breakthroughs from academia and research institutes to industries and businesses.