President Bola Ahmed Tinubu has pledged to allocate 0.5 percent of the country’s gross domestic product (GDP) to Research and Development (R&D) endeavours, aiming to accelerate national progress.
This decision aligns with the 2006 African Union Executive Council’s resolution for member states to allocate at least one percent of GDP to R&D.
Speaking at the Science, Technology, and Innovation expo in Abuja recently, The President, who was represented by the Secretary to the Government of the Federation (SGF), Senator George Akume, emphasised the importance of this investment in fostering innovation, enhancing productivity, and stimulating economic growth.
He also highlighted plans to promote the application of the National Policy on Welding and Welding-Related Fields to bolster the manufacturing sector’s contribution to GDP and address unemployment.
Furthermore, the President announced the establishment of National Centres for Training in Welding and Welding-Related Fields across the country, aimed at enhancing skills development and certification in these areas.
President Tinubu reiterated the government’s commitment to accelerating R&D efforts, underscoring previous initiatives and expressing determination to realise this vision in collaboration with the National Economic Council.
