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Ndubuisi Orji
The Federal Government has said the absence of venture capitalists in the country is militating against the commercialisation of research findings.
Minister of Science and Technology, Ogbonnaya Onu, disclosed this, in Abuja, yesterday.
However, he stated that the government was determined to ensure that the citizens benefit from researches conducted with public funds.
Onu, who spoke at a 2021 budget defence session with the House of Representatives Committee on Science and Technology told the lawmakers that government has done a lot to ensure that research findings are beneficial to Nigerians.
He explained that there were 2150 products in the markets as a result of research findings
“In the area of commercialisation, one problem we have in the country is that we don’t have venture capitalist Many of you lived abroad and you know that most of the country that have done very well they have venture capitalists.
“These are people who waiting for research results. They are willing to take the risk. Take the results of researches and commercialise them.But in our country we don’t have them and we badly need them. But we have done a lot. We have 2150 products coming out from research that are in the market place.”
Onu added that the government has also instituted an annual science competition to reward secondary school students, who excel in science and innovation.
“The way the programme runs is that we write to the state government requesting the various local government areas in the state to conduct exams in four subjects of Mathematics, Biology, Chemistry and Physics and select one person from the local government. We are not involved in the selection process
“Those people selected from the local government will meet at the state level where an examination is also conducted for them and the best candidate picked and sent to us in Abuja. Those 37 students from the states will also sit for an examination from where we select the best three. We are not even involved in the process of conducting the exams.
“These three students are the ones that will be given award. The president will present the award to them, which is government scholarship up to PhD level, but that must be in a Nigerian University,” he saidd.
However, the member representing Andoni-Opobo/Nkoro Federal Constituency of Rivers State, Awaji-Inombek Abiante, dismissed all the achievements listed by Onu, especially the science competition as unverifiable.
Abiante challenged the minister to name one person from his constituency, who has benefited from any of the programmes of the ministry.
He said: “All these beautiful statements that we hear year in, year out has become a ritual. A ritual that the press will carry and Nigerian will applaud. But right there at the grassroots, they don’t exist. When we get home they will say we saw you, you were there when the minister was saying it. Go and show us. Why are we not being carried along? And the next thing you will hear is #EndSARS. They will come to my father’s house and be looking for those things you told us you have done. I have looked at the budget and I think I am disappointed. “
Nevertheless, as the hearing room became charged, with Onu attempting to respond, the Committee Chairman, Beni Lar intervened and called for an executive session with the minister.
