Friday 20th October, 2017
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FG needs private sector to commercialise research results, says Onu

FG needs private sector to commercialise research results, says Onu

The Minister of Science and Technology, Dr. Ogbonna­ya Onu says the Federal Gov­ernment is cultivating a cordial re­lationship with the private sector in order to ensure that research find­ings by its institutions are commer­cialized to bring new products into the market.
 
He said government believes that this would lead to job creation, pov­erty alleviation and wealth creation.
 
Onu who stated this in Abuja on Thursday when he received a delega­tion from SkySat Ltd, said partnering with local companies remains a pri­ority for the government.
 
According to him, “We are very interested in making sure that we work closely with the private sector. We believe that the work we do here must be one that the private sector will continuously benefit from be­cause the research we do if the re­sults are not commercialized then those results will be left in the lab­oratories and they won’t be of much use to the nation.
 
“We want new products, better products and services to come out of the research that we do in our various agencies. We have about 17 of them and that is why we have been work­ing very hard to improve our rela­tionship with the private sector.
 
“So that the private sector can ben­efit from the work that we do because the research that we do will help to move the risk involved in the private sector commercializing our research findings”.
 
The Minister expressed confi­dence that “the private will show this interest because of the profit motive. They will make money but in the process of making money, they will also be serving the best interest of our nation because product will now be in the market place. New services will be available and that is the only way you can create wealth. That is also the best way to create new jobs and we believe that also a very good way to create wealth”.
 
He therefore urged the company to show more interest in the research findings by the ministry’s agencies, noting the universities, the private sector and the government represent a tripod whose relationship must be cordial for effective partnership.

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