Prof. Julius Okojie, the former Executive Secretary, National Universities Commission (NUC), has advised the Federal Government to invest in innovations and research to achieve sustainable economic growth.
Okojie gave the advice on Thursday at the 12th Convocation Lecture of Covenant University, Ota, Ogun.
The lecture has as its theme: Research and Innovation – Panacea to African’s Economic Underdeveloped.
He said that the country and other African countries were economically underdeveloped in spite of natural and human resource given to them due to lack of innovation and research.
”Lack of quality and quantity innovations and research are undermining the development of any nation.
”The only way out of poverty and unemployment is to embrace innovation and research so as to facilitate national development,” he said.
Okojie said that Nigeria and others African continents were ranked low in the human development index because of inability to carry out innovations and research through entrepreneurship centre.
He, however, implored the Federal Government to provide adequate funds for the educational system because innovation and research played a critical role in economic development of any nation.
Okojie said that there was the need for the Federal Government to create an enabling environment in most of the entrepreneurship centre by addressing bottlenecks affecting innovations and research.
He, however, enjoined both the private sector and public sector to collaborate in improving innovation and research in the country.
Dr David Oyedepo, the Chancellor of the institution said that there was the need for Nigeria and Africa to be re-orientated in order to solve the problem of poverty and rising unemployment rate.
”The nation and others in the African continent need to respond to the current issues of the day by embracing indigenous solutions to their problems,” he said.
Oyedepo said that there were great thinkers in Nigeria and other African countries but there were no key actors ready to take the responsibilities.
Prof. Aaron Atayero, the Vice-Chancellor noted that the only way for the nation and African countries to achieve their potential for development was through investment in innovation and research.
Atayero said that Covenant University was committed to the development of the country as well as the continent by making research a priority.