The Executive Secretary, Tertiary Education Trust Fund (TETFund), Prof. Suleiman Boforo, says the Nigerian economy can only be globally competitive with the institutionalisation of Research and Development (R&D).
Bogoro said this on Wednesday, in Abuja, while receiving the draft Executive Bill for establishment of the National Research and Development Foundation (NRDF) from the NRDF Bill Drafting Committee.
The News Agency of Nigeria(NAN) reports that the draft bill is aimed at establishing a National Research and Development Foundation to coordinate research that would pave way for Nigeria to become a knowledge-based economy.
Bogoro commended the commitment shown by the Attorney General of the Federation, Abubakar Malami, by engaging members of staff of the Ministry of Justice to be part of the drafting committee.
He said that the submission of the draft bill had laid the foundation for driving a knowledge-based economy, saying it was imperative for Nigeria to pursue knowledge for economic development.
“When we lack the fidelity to implement our policies and lack the discipline to enforce our laws, it is precisely why we have failed to attain our potential as a nation.”
He expressed satisfaction with the composition of the draft committee, saying it cut across the academia, industry operators and government.
The TETFund boss said the most competitive nations in the world were those that regarded innovation and creativity as lead elements for national development.
“The greatest of thinkers in history were those that drove the direction of their nations.
“The greatest of thinkers do things beyond the average persons,” he said.
Earlier in his remarks, Chairman Drafting Committee, Prof. Auwalu Yadudu, said the bill would be forwarded to the Minister of Education for approval before submission to National Assembly for consideration.
“The bill seeks to establish a national research and development foundation to Institutionalise, mainstream and commercialise research and development.
“It is also aimed at promoting innovation while supporting enterprise development for job and wealth creation for a knowledge-driven economy.
“Everything else that we do will remain in our laboratories, in our thesis, in our classrooms if it is not translated into some applications, some uses which will require the intervention and participation of the industry,” he said.
He said when passed into law, the bill would ensure the establishment of a foundation that would complement efforts of TETFund.
NAN reports that the Ministry of Education had on June 15, inaugurated an 11-member National Research and Development Foundation(NRDF) Draft Executive Bill Committee to define the path for Nigeria’s knowledge economy.
The committee was inaugurated by the Permanent Secretary, Ministry of Education,Mr Sonny Echono, on behalf of the Minister of Education, Adamu Adamu.(NAN)