Abuja: Prof. Azikiwe Onwualu, President, African University of Science and Technology (AUST), has advocated that three per cent of Nigeria’s Gross Domestic Product (GDP) be spent on Research and Development (R&D).
Onwualu said this on Thursday in Abuja during an interview with the News Agency of Nigeria (NAN).
He said that percentage of the country’s GDP would boost research and research outcomes commercialisation.
He said it would also go a long way in helping to ensure the integration of Research, Development, Innovation, and Commercialisation (RDIC) into all national development strategies.
He said that RDIC was a major driver of national transformation, adding that governments at all levels needed to treat it as a priority.
“RDIC are not isolated activities but interconnected stages of a strategic cycle.
“For Nigeria to achieve national prosperity, it must invest systematically in each stage, breaking silos and building partnerships, ” he said.
According to him, with the right policy environment, infrastructure and human capital, RDIC could drive inclusive, sustainable economic transformation and engender national prosperity.
Onwualu said the country needed to increase R&D spending to at least three per cent of GDP, to be guided by measurable goals and a robust Monitoring, Evaluation and Learning framework.
The AUST President also called for the establishment of more research and innovation hubs that would integrate academia, industry and startups.
He said that such clusters would serve as engines of technological innovation and job creation.
He also said that with co-funding schemes and tax incentives, private sector and industry partners could be encouraged to boost R&D.
Onwualu also recommended stronger intellectual property laws and more effective technology transfer mechanisms to support academia-industry collaboration.
“We need to intentionally create and drive talent pipelines by focusing on skills education, research fellowships, entrepreneurship training, and mentorship schemes.
“The government needs to encourage global integration through supporting international collaboration and export-led innovation, ” he said.
He also advocated similar structures at the state level and by regional development commissions to ensure that innovation responded to local needs and opportunities.
