• Tuesday, April 16, 2024
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BusinessDay

Innovation drives economic prosperity

Nigeria’s economy

The Bloomberg Innovation Index for 2019 has just been released. The Innovation Index examines dozens of criteria including research and development spending, manufacturing capability, productivity, hi-tech density, tertiary institution efficiency and patent activity, etcetera. In the 2019 ranking, South Korea is first and Germany occupies the second position, while South Africa is the only sub-Saharan African country to be ranked. It has been said repeatedly that innovation drives the economic prosperity of nations as reflected in the performance of most Asian economies. As observed by a participant at the 2019 World Economic Forum: “The battle for control of the global economy in the 21st Century will be won and lost over control of innovative technologies. Korea’s number one spot and China’s shift up the rankings in a reminder that the US trade war might slow but won’t stop Asia’s technological rise.”

Regrettably, Nigeria is missing in the list of 2019 world’s 60 most innovative countries. Many Nigerians who appreciate the role technology plays in the innovation endeavor aren’t expecting Nigeria’s name to be in the list of the world’s most innovative countries. Why, you may ask? The education system is of low quality, funds released for research is very low, capacity utilization of manufacturing companies is barely average, tertiary institutions are always on strike, among other challenges. Our level of illiteracy is very high. Those Nigerians who can neither read nor write are estimated to be more than forty percent of the population, according to the National Bureau of Statistics.Illiteracy gives rise to poverty, unemployment, crime, and infant mortality, among others. Any society with overwhelming number ofilliterates cannot innovate.

It’s true that economists worldwide have accepted the primacy of technology in the innovation endeavor. Those in the government in Nigeria have only acknowledged the supremacy of technology in economic growth in speeches without any meaningful action to implement same in an enabling environment. The technology referred to is the systematic knowledge of the technique of production embodied in people such as skill, managerial techniques etc. Nigeria’s technological backwardness is in part responsible for the International Monetary Fund’s (IMF’s) decision to “neck shave” Nigeria’s growth projections from 2.3 percent to 2.0 percent for 2018. Instead of marshalling a plan with which Nigeria can take a leap forward technologically, our political leaders dance round the country making promises they can’t fulfil.

It’s almost 49 years ago, precisely in May 1970, that the highest level of government in Nigeria demonstrated awareness of the role of science and technology in national development. It was Yakubu Gowon, then Head of State, who first made a policy statement on Science and Technology (S&T) and its relevance to national development as follows: “It is my hope that today will similarly symbolize the beginning of a great future for the development of science and technology and their application to the constructive exploitation and utilization of our national resources.”

In January 1980, almost 10 years after Yakubu Gowon’s policy declaration, Shehu Shagari, former President of Nigeria, also had this to say: “It is no accident that the Science and Technology Bill is the first bill my administration presented to the National Assembly. It is a conscious act to give practical expression to our desire to promote science and technology without which rapid development of our country cannot be possible. We had already indicated the importance we attach to the promotion of science and technology by creating the first fully fledged Ministry of Science and Technology in Nigeria.”

In 2011, the former President of Nigeria, Goodluck Ebele Jonathan, made a statement of commitment on S&T as follows:“We are going to run our economy based on science and technology…..because nowhere in this world now that you can move your economy without science and technology. For the next 4 years, we will emphasize so much on S&T because we have no choice, without that we are just dreaming…”

In 2016, it was President Buhari’s turn to say: “The Federal Government’s desire to secure the country and grow its economy cannot be achieved without science and technology taking their rightful place.” The President saysfurther that “Nigeria’s vision of becoming one of the 20 largest economies in the world by 2020 is only attainable when Science,Technology and Innovation are fully integrated into our national socio-economic development process.”

If Nigeria hasn’t benefitted from S&T in the last 49 years, it only means that something is either wrong with policies on S&T or there are challenges with implementation, hence the need for a rethink. Achieving innovation through S&T, requires working smart, not hard, because of the complex interactions between the society, industry and research institutions.

Since the establishment of the Ministry of Science and Technology in Nigeria in 1980 successive governments have formulated various policies. With only the University College, Ibadan, in 1960, governments have expended so much on S&T, such that in the year 2018, reports from National University Commission reveals that Nigeria has 165 universities- 43 federal universities, 47 state universities and 75 private universities.These universities offer various science and engineering courses.While the National Board for Technical Education (NBTE) reports show that the country has 112 polytechnics, 47monotechnics and 155 technical colleges. There are also 36 research institutes in the country. These institutions have not improved the quality of human resources especially in developing new skills, cultural values and behavioral patterns needed in industry. Without Nigeria in the list of 60 world’s most innovative economies, policy decision makers should know that there is a problem with the country’s educational system. It’s not the number of tertiary institutions but the quality of academic work embarked upon by these institutions of higher learning.As a result of falling standard of education and unfriendly business environment, Nigeria is not one of the 60 most innovative countries in the world in 2019. Although, the sale of crude oil is still very key to Nigeria’s economy, the world will not ignore her if she is technologically developed.

 

MA Johnson