From Charity Nwakaudu, Abuja

Minister of State for Science, Technology and Innovation, Henry Ikechukwu Ikoh, has said  Nigeria must increase its investment in science and technology to be able to reverse the present foreign exchange rate.

The minister gave the charge at the flag-off of a North Central dialogue between government and stakeholders in the Science, Technology and Innovation (STI) ecosystem on the establishment and implementation of the rechnology andinnovation centres for global competitiveness and productivity in Abuja, yesterday.

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The minister, represented by the permanent secretary of ministry, Monilola Udoh, stressed the need for industry and business-driven research and development activities to be fully integrated into providing solutions to the nation’s socio-economic activities and the stabilisation of the nation’s foreign exchange.

“Establishment and implementation of these technology and innovation centres will serve as hubs for promotion of technology utilization, strengthening of technology management and information systems, the facilitation of commercialisation and global competitiveness. 

“These hubs will bring together government, academia, industry and civil society as unifying centres for constant dialogue on strategies for the promotion of industry and business-driven research, development and innovation activities which will focus on reverse engineering, innovativeness, production, value addition and commercialisation leading to global competitiveness and ultimately sustainable wealth creation. It will also support the stabilisation of the nation’s foreign exchange,” he said.