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Published On: Tue, May 6th, 2014

FG renews commitment to automobile, manufacturing sectors

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From Ahmed Kaigama, Bauchi

Expert opined that private sector investment was key to the success of technology incubation programme in Nigeria.

An Official of Technology Incubation Centre, Bauchi, Mr Miskom Attahiru, yesterday told newsmen that private sector investment was a powerful catalyst for innovation, economic growth and poverty reduction.

He said that if the private sector was encouraged, it would play a vital role in improving the technology incubation environment and help enterprises respond to new and changing demands.

He explained that the idea of technology incubation programme stemmed from the desire for rapid socio-economic development.

According to him, it is expected that the programme will propel the nation to become an industrial giant in Africa and key player in global technological matters.

Attahiru however blamed the current low performance of the programme to lack of proper funding, credit facilities, infrastructure, poor management as well as insufficient power supply.

“I want to state emphatically that poor infrastructure generally was responsible for the little or complete absence of private sector investment in technology incubation programme in Nigeria.

“Nigeria would only attain global competitiveness with massive private sector investment in the privatisation and commercialisation of research and development, as well as promotion of techno-entrepreneurship culture.

“In addition, private sector investment would ensure the adoption of best practises in our technology incubation programmes.

“It would re position the programme to be at par with similar programmes in Europe, China, Japan and Korea, among others.

“The target is to fully exploit and tap the benefits of technology incubation, which include job and wealth creation, through all inclusive technology acquisition, “ Attahiru said.

He however said that there was the need for government to give priority to economic infrastructure and financial market development as key areas in promoting investment.

The official said that such measure would help pave way for the desired robust growth as well as strengthen the capacities of local firms to respond to new investment opportunities.

“If the investment climate is conducive, the private sector investment could encourage entrepreneurship and innovation by supporting education and vocational training, research and development activities and technology transfer,” he said.

 

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