Nigeria Must Invest In Technology To Address Challenges – Commissioner | Independent Newspapers Limited
Newsletter subscribe

Latest News

Nigeria Must Invest In Technology To Address Challenges – Commissioner

Posted: May 23, 2016 at 4:45 pm   /   by   /   comments (0)
Dr. Mustapha Akinkunmi, the Lagos State Commissioner for Finance, has said that Nigeria must begin to invest in the technology to address the many challenges facing it.
Akinkunmi, who spoke at the commencement lecture of the American University of Nigeria in Yola, Adamawa State, at the weekend lamented that the nation has placed much emphasis on oil and the agriculture sector and little on other sectors, especially technology.
He said the present economic turbulence in the country could be a springboard to discover a means other than the oil sector, saying that technology could be used to drive revenue generation.
“Economists like me can be wrong. Our income statistics place too much emphasis on oil and agriculture and too little on the services and technology that now dominate innovation.
“Nigeria needs to continue investing in new mobile technology, health care, education and exporting creativity — music, movies and the written word. 
“Of course, trade and industry matters, and reliable power are essential for rapid growth,” Akinkunmi said.
He stated that if the students must see themselves as global future leaders, they must embrace innovation and science, saying these had a key role to play in solving many of the nation’s challenges.
“I must emphasise that technology does not just mean information and communication technology, it is medical, agricultural technology. These innovations consistently emerge from academic institutions and research facilities. This university should be at the heart of that drive,” he added.
The commissioner said that as Lagos is the financial hub of the country, the North-East zone also has the potential to become the technology hub.
“This is what the modern economy is all about – creativity, ambition and smart use of new technology. It’s also about having an international outlook.
“The ambition is to leverage off our human capital potential, and export ideas not just across borders – but across continents. We must participate in the global marketplace.
“Many areas of experimental research, such as the development of new or improved products in the agricultural industry or renewable energy technology, or new sustainable processes in the extraction of natural resources, have global benefits,” he said.
He urged students of the university to take keen interest in science, saying that they could become the future of science in the country; which will ultimately position it as the future of the nation’s economy and the global marketplace – through science and innovation turned into commercial application.