You are here
Home > News > Economic Diversification Depends On Infrastructural Development – Onu

Economic Diversification Depends On Infrastructural Development – Onu

Minister of Science and Technology, Dr. Ogbonnaya Onu, has said the Federal Government’s attempt to diversify its economy would yield no result unless there is infrastructural development in the country.

Onu who stated this on Monday in Abuja when he received the Working Group from National Quality Infrastructure Project led by Prof. Abimbola Uzomah.

He said the infrastructure must be well-developed in the country to achieve economic diversification.

According to him, “There is no way we can grow our economy and diversify it, and attract investors both local and foreign, if we don’t have necessary infrastructure in place.”

He explained that his ministry was working tirelessly to deploy Science and Technology in the economic growth and development of the country.

While citing an instance with China, the Minister explained that the China’s Gross Domestic Product growth had remained at 9per cent over the last three decades because of the infrastructure put in place in the Asian country coupled with deployment of science and technology to drive its economic growth.

According to him, “The foundation upon which the Chinese miracle lies is Science and technology.

“Through research and innovation, they keep on improving on their system, productivity and growth.”

This, he acknowledged, has lifted out hundreds of millions of Chinese from abject poverty.

To this end, Onu assured that the President Muhammadu Buhari-led administration would deploy Science and Technology to achieve economic growth, diversification and boost food productivity.

Earlier, the Lead Expert for National Quality Infrastructure of Nigeria, Prof. Abimbola Uzomah, said the group was in the Ministry of Science and Technology on advocacy visit.

Uzomah explained that the Working Group, made up of experts drawn from various Ministries, Departments and Agencies (MDAs), had undergone the review of technical regulations in Nigeria aimed at discovering the reasons for the lapses in the provision of infrastructure in Nigeria.

She explained that the Project was being funded by United Nations Industrial Development Organisation (UNIDO) to the tune of 12million Euros.

Therefore, she solicited the support and assistance of the Ministry to succeed in their assignments.