The Federal Government has awarded N47 million in grants to 32 Nigerian innovators through the Presidential Standing Committee on Innovations and Inventions (PSCII) program, aiming to promote inventions and create jobs.
Minister of Innovation, Science and Technology, Chief Uche Nnaji, revealed that over 600 innovators have benefited from the program since its inception in 2005, with plans to increase budgetary allocation and collaborate with stakeholders to drive technological breakthroughs.
Nnaji, who was represented by Mrs Esuabana Nko-Asanye, the Permanent Secretary, Ministry of Innovation, Science and Technology.
Speaking at the grants presentation event in Abuja, the Deputy Director, overseeing the Department of Technology Acquisition and Adaptation (TAA) at the Ministry of Innovation, Science and Technology, said the grants ranged from one to N5 million to each beneficiary.
The initiative seeks to encourage Nigerians, especially in the informal sector, to develop technological ideas that positively impact the economy and society.
“The Ministry is making efforts to improve the budgetary allocation for the PSCII.
“Also, collaborations with relevant stakeholders such as the Tertiary Education Trust Fund, (TetFund), Petroleum Technology Development Fund (PTDF), National Universities Commission (NUC), National Board for Technical Education (NBTE), Raw Materials Research and Development Council (RMRDC), the National Planning Commission, e.t.c., is facilitating the achievement of the ultimate goal of the PSCII Programme by providing a solid foundation for a technological break-through in the country, as well as improving the socio-economic well-being of Nigerians.”
The Minister said the federal government is also leveraging collaboration with the organized private sector to facilitate the achievement of the desired goal of the programme.
The Minister encouraged grant recipients to work hard to overcome unemployment and poverty challenges, leveraging the funding to drive economic growth and improve the socio-economic well-being of Nigerians.
