The Minister of Innovation, Science and Technology, Uche Nnaji, has lauded the leadership of the National Board For Technology Incubation for training thousands of industrialists over the years.

The minister gave this commendation on Friday during his facility tour of the Technology Incubation Centre in Agege, Lagos.

After taking a look at the centre’s various innovations including items produced by owners of Small and Medium Enterprises, the minister assured that the ministry would support the agency.

“I am seeing some industrialists being incubated in this place, and from here they move to their own businesses. This centre has churned out millionaires. Under President Bola Tinubu’s Renewed Hope Agenda, we as ministers are eager to move and actualise this mandate. The President has said more has to be done in every quarter and jobs have to be created,” he said.

Mr Nnaji said that the Federal Government had started making moves to establish a research and development fund which SME owners could leverage on.

He said, “Before we didn’t have a research and development fund but we are at the verge of creating one where people that have excelled in innovation and technology can take funds to develop what they have researched.’’

Earlier, the Director-General/CEO, National Board for Technology Incubation, Dr Patricia Uchenna Chukwu, thanked the Federal Ministry of Innovation, Science and Technology for its support over the years.

In her keynote address, she harped on technology as the key to unlocking solutions to some of the most pressing issues of the country.

“It is undeniable that in the swiftly changing landscape of today’s world, progress heavily relies on technological advancements. Whether in artificial intelligence, renewable energy, biotechnology, or blockchain, the potential is boundless.

“Yet, to actualise these opportunities fully, we must adopt a culture that champions innovation, collaboration, and entrepreneurship,” she said.

Mrs Chukwu called on the ministry to support it to fully maximise the potential embedded in the agencies.

She said that the NBTI focused on identifying and providing support for local talents, nurturing the upcoming generation of innovators and entrepreneurs who would steer the country’s technological progress.

“Like Oliver Twist, we crave increased funding to support the commercialisation of numerous research projects that are ready for exploitation and are currently lying on the shelves of various research institutes throughout the country.

“We are confident that by working together with all involved parties, we can close the divide between research and the market. We can stimulate innovation, generate employment opportunities, and spur economic growth,” the NBTI boss said.

(NAN)